Insider Selling: LegalZoom.com (NASDAQ:LZ) Insider Sells $242,417.96 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 43,996 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.51, for a total transaction of $242,417.96. Following the completion of the sale, the insider owned 976,932 shares in the company, valued at approximately $5,382,895.32. The trade was a 4.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nicole Miller also recently made the following trade(s):

• On Tuesday, August 18th, Nicole Miller sold 33,479 shares of LegalZoom.com stock. The stock was sold at an average price of $5.51, for a total value of $184,469.29.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $5.86 on Friday. The firm has a market capitalization of $1.00 billion, a PE ratio of 65.11, a PEG ratio of 1.10 and a beta of 1.28. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40. The business’s 50 day moving average is $6.68 and its 200-day moving average is $6.50.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The business had revenue of $205.29 million for the quarter, compared to analysts’ expectations of $205.83 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LZ. William Blair lowered shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. UBS Group cut their price target on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Citigroup reduced their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Wall Street Zen cut LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $7.30.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in shares of LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after purchasing an additional 3,766 shares during the period. EverSource Wealth Advisors LLC grew its holdings in LegalZoom.com by 976.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after purchasing an additional 4,140 shares during the period. PNC Financial Services Group Inc. grew its holdings in LegalZoom.com by 11,415.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock worth $43,000 after purchasing an additional 7,534 shares during the period. Parallel Advisors LLC increased its position in LegalZoom.com by 8,589.8% during the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock worth $53,000 after buying an additional 5,068 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in LegalZoom.com during the first quarter worth approximately $58,000. Institutional investors own 81.99% of the company’s stock.

About LegalZoom.com

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.