Cornerstone Investment Partners LLC Makes New $157,000 Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Cornerstone Investment Partners LLC purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the 4th quarter, HoldingsChannel reports. The firm purchased 13,890 shares of the company’s stock, valued at approximately $157,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LZ. Ameritas Investment Partners Inc. increased its stake in shares of LegalZoom.com by 17.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,603 shares of the company’s stock worth $104,000 after buying an additional 1,256 shares during the period. Lazard Asset Management LLC increased its position in shares of LegalZoom.com by 117.8% in the third quarter. Lazard Asset Management LLC now owns 2,858 shares of the company’s stock valued at $31,000 after acquiring an additional 1,546 shares during the period. Alliancebernstein L.P. raised its stake in shares of LegalZoom.com by 1.5% during the third quarter. Alliancebernstein L.P. now owns 105,973 shares of the company’s stock valued at $908,000 after acquiring an additional 1,573 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of LegalZoom.com by 49.9% during the first quarter. Royal Bank of Canada now owns 5,099 shares of the company’s stock worth $72,000 after purchasing an additional 1,697 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of LegalZoom.com by 7.9% in the third quarter. Brighton Jones LLC now owns 24,382 shares of the company’s stock worth $267,000 after purchasing an additional 1,788 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $14.00 price objective on shares of LegalZoom.com in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on LegalZoom.com from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Barclays cut their price target on shares of LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. Finally, Raymond James assumed coverage on shares of LegalZoom.com in a research report on Wednesday, March 27th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.36.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $11.73 on Friday. LegalZoom.com, Inc. has a 1 year low of $6.89 and a 1 year high of $15.68. The firm has a 50-day moving average of $12.40 and a 200 day moving average of $11.37. The stock has a market cap of $2.20 billion, a P/E ratio of 146.64, a price-to-earnings-growth ratio of 4.14 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. The firm had revenue of $158.66 million during the quarter, compared to analyst estimates of $156.25 million. Research analysts expect that LegalZoom.com, Inc. will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at LegalZoom.com

In other LegalZoom.com news, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $13.17, for a total value of $124,614.54. Following the completion of the transaction, the chief operating officer now directly owns 498,519 shares of the company’s stock, valued at $6,565,495.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Richard Preece sold 9,462 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $13.17, for a total value of $124,614.54. Following the completion of the transaction, the chief operating officer now owns 498,519 shares in the company, valued at $6,565,495.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Francis Murphy sold 10,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $12.47, for a total value of $124,700.00. Following the sale, the director now directly owns 40,507 shares in the company, valued at $505,122.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,555 shares of company stock worth $664,688. 44.60% of the stock is owned by insiders.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.