Edgestream Partners L.P. Has $1.56 Million Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Edgestream Partners L.P. trimmed its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 8.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 116,616 shares of the company’s stock after selling 10,769 shares during the period. Edgestream Partners L.P. owned 0.06% of LegalZoom.com worth $1,556,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of LZ. Vanguard Group Inc. raised its stake in shares of LegalZoom.com by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after acquiring an additional 2,777,206 shares during the last quarter. Technology Crossover Management IX Ltd. lifted its holdings in LegalZoom.com by 14.6% during the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after buying an additional 2,094,240 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of LegalZoom.com by 3,195.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 943,856 shares of the company’s stock valued at $10,666,000 after buying an additional 915,214 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of LegalZoom.com by 64.7% in the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after buying an additional 775,775 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in shares of LegalZoom.com by 16.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,975,276 shares of the company’s stock worth $33,621,000 after acquiring an additional 409,326 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock traded up $0.28 on Monday, reaching $6.70. 1,945,527 shares of the company traded hands, compared to its average volume of 1,716,281. The firm has a market capitalization of $1.26 billion, a PE ratio of 60.91, a PEG ratio of 4.49 and a beta of 1.10. The company has a 50 day moving average of $8.14 and a 200 day moving average of $10.48. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $15.68.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. The company had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.87 million. As a group, analysts anticipate that LegalZoom.com, Inc. will post 0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JMP Securities lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 10th. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price target for the stock from $13.00 to $6.00 in a report on Wednesday, July 10th. Raymond James initiated coverage on shares of LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. Barclays cut shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered shares of LegalZoom.com from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $9.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.21.

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.