Ieq Capital LLC grew its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ – Get Rating) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,863 shares of the company’s stock after acquiring an additional 5,647 shares during the quarter. Ieq Capital LLC owned about 0.08% of LegalZoom.com worth $1,267,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in LegalZoom.com by 487.3% during the first quarter. Bank of New York Mellon Corp now owns 212,751 shares of the company’s stock worth $3,007,000 after buying an additional 176,523 shares in the last quarter. Citigroup Inc. grew its holdings in LegalZoom.com by 669.6% during the first quarter. Citigroup Inc. now owns 8,519 shares of the company’s stock worth $120,000 after buying an additional 7,412 shares in the last quarter. MetLife Investment Management LLC bought a new stake in LegalZoom.com during the first quarter worth $63,000. Rhumbline Advisers grew its holdings in LegalZoom.com by 232.6% during the first quarter. Rhumbline Advisers now owns 56,063 shares of the company’s stock worth $793,000 after buying an additional 39,209 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in LegalZoom.com by 50.6% during the first quarter. BlackRock Inc. now owns 5,491,412 shares of the company’s stock worth $77,649,000 after buying an additional 1,843,874 shares in the last quarter. Institutional investors own 69.36% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on LZ. Morgan Stanley boosted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, November 11th. Credit Suisse Group cut their price objective on LegalZoom.com from $19.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 11th. Finally, Barclays cut their price objective on LegalZoom.com to $15.00 in a research report on Wednesday, November 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.67.
LegalZoom.com Trading Down 0.6 %
LegalZoom.com (NASDAQ:LZ – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). LegalZoom.com had a negative net margin of 12.15% and a negative return on equity of 38.19%. The company had revenue of $154.42 million for the quarter, compared to the consensus estimate of $150.07 million. Research analysts forecast that LegalZoom.com, Inc. will post -0.19 earnings per share for the current year.
LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.
- Get a free copy of the StockNews.com research report on LegalZoom.com (LZ)
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