ArrowMark Colorado Holdings LLC Sells 22,181 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

ArrowMark Colorado Holdings LLC reduced its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,420,230 shares of the company’s stock after selling 22,181 shares during the period. ArrowMark Colorado Holdings LLC owned about 1.40% of LegalZoom.com worth $15,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LZ. Coastal Bridge Advisors LLC raised its stake in LegalZoom.com by 10.2% during the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after acquiring an additional 184,696 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of LegalZoom.com during the 3rd quarter worth about $1,429,000. Renaissance Technologies LLC lifted its holdings in LegalZoom.com by 26.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after purchasing an additional 521,200 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in LegalZoom.com by 214.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 24,965 shares of the company’s stock valued at $333,000 after buying an additional 17,024 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in LegalZoom.com by 163.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 116,876 shares of the company’s stock worth $1,560,000 after buying an additional 72,533 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LZ. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. Citigroup lifted their price target on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 price target on shares of LegalZoom.com in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.75.

LegalZoom.com Price Performance

LZ opened at $7.98 on Tuesday. The firm has a 50 day simple moving average of $7.24 and a 200 day simple moving average of $7.24. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company had revenue of $168.60 million during the quarter, compared to analysts’ expectations of $167.66 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

LegalZoom.com 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.