LegalZoom.com, Inc. (NASDAQ:LZ) Given Average Rating of “Hold” by Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.4167.

Several equities research analysts have recently issued reports on the company. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Citigroup decreased their target price on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, November 21st. Wall Street Zen downgraded LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Barclays upped their price target on LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th.

Insider Activity

In other news, insider Nicole Miller sold 23,325 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $6.63, for a total transaction of $154,644.75. Following the completion of the transaction, the insider owned 813,033 shares of the company’s stock, valued at approximately $5,390,408.79. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total transaction of $104,400.00. Following the completion of the sale, the chief financial officer owned 1,480,860 shares of the company’s stock, valued at approximately $10,306,785.60. The trade was a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LZ. Exchange Traded Concepts LLC acquired a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $34,000. Parkside Financial Bank & Trust acquired a new stake in LegalZoom.com in the 3rd quarter valued at $40,000. Clearstead Advisors LLC raised its stake in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares in the last quarter. Osaic Holdings Inc. raised its stake in LegalZoom.com by 477.3% during the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after acquiring an additional 3,766 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of LegalZoom.com by 976.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after acquiring an additional 4,140 shares during the period. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $7.03 on Friday. The business’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $9.67. LegalZoom.com has a 52 week low of $6.14 and a 52 week high of $12.40. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 87.89, a P/E/G ratio of 1.53 and a beta of 1.22.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Thursday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The company had revenue of $190.27 million during the quarter, compared to analyst estimates of $184.85 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current year.

LegalZoom.com announced that its board has initiated a stock repurchase program on Thursday, February 19th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.