LegalZoom.com, Inc. $LZ Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,072,004 shares of the company’s stock after selling 718,104 shares during the quarter. Vanguard Group Inc. owned approximately 11.14% of LegalZoom.com worth $208,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in LegalZoom.com by 368.6% during the third quarter. Voya Investment Management LLC now owns 406,847 shares of the company’s stock worth $4,223,000 after purchasing an additional 320,026 shares during the period. Rice Hall James & Associates LLC purchased a new position in shares of LegalZoom.com in the 3rd quarter worth $3,397,000. Russell Investments Group Ltd. boosted its holdings in LegalZoom.com by 125.1% in the second quarter. Russell Investments Group Ltd. now owns 419,388 shares of the company’s stock valued at $3,729,000 after acquiring an additional 233,056 shares during the last quarter. Magnetar Financial LLC purchased a new stake in LegalZoom.com during the second quarter valued at about $1,403,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of LegalZoom.com by 48.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,352,865 shares of the company’s stock worth $12,054,000 after purchasing an additional 442,345 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Up 0.3%

LZ stock opened at $7.03 on Monday. The stock’s 50 day moving average is $8.63 and its two-hundred day moving average is $9.65. LegalZoom.com, Inc. has a 52-week low of $6.14 and a 52-week high of $12.40. The company has a market capitalization of $1.22 billion, a PE ratio of 87.89, a P/E/G ratio of 1.53 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $190.27 million for the quarter, compared to analyst estimates of $184.85 million. LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. As a group, sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

LegalZoom.com announced that its Board of Directors has authorized a stock buyback program on Thursday, February 19th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LZ. Weiss Ratings reissued a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their price objective on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. UBS Group cut their target price on shares of LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Finally, Morgan Stanley upped their price target on shares of LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com has an average rating of “Hold” and an average price target of $10.42.

Insider Buying and Selling at LegalZoom.com

In related news, insider Nicole Miller sold 23,325 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $6.63, for a total value of $154,644.75. Following the completion of the sale, the insider directly owned 813,033 shares of the company’s stock, valued at $5,390,408.79. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $6.96, for a total value of $104,400.00. Following the transaction, the chief financial officer directly owned 1,480,860 shares in the company, valued at approximately $10,306,785.60. This represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by company insiders.

LegalZoom.com Profile

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.