LegalZoom.com (NASDAQ:LZ) Stock Price Up 6.4% – Here’s Why

LegalZoom.com, Inc. (NASDAQ:LZ)’s stock price shot up 6.4% on Monday . The stock traded as high as $7.72 and last traded at $7.7110. 609,045 shares changed hands during trading, a decline of 81% from the average daily volume of 3,128,971 shares. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LZ. UBS Group cut their price objective on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Wall Street Zen raised shares of LegalZoom.com from a “hold” rating to a “buy” rating in a research report on Sunday. Citigroup reduced their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price target on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average target price of $8.25.

LegalZoom.com Trading Down 3.2%

The stock has a market cap of $1.28 billion, a PE ratio of 124.52, a PEG ratio of 1.36 and a beta of 1.31. The business has a 50-day moving average price of $6.27 and a 200 day moving average price of $7.00.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The firm had revenue of $206.78 million during the quarter, compared to analysts’ expectations of $202.14 million. During the same period last year, the business posted $0.13 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at LegalZoom.com

In other news, insider Nicole Miller sold 19,199 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the sale, the insider owned 1,119,222 shares of the company’s stock, valued at $7,364,480.76. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Also, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.45, for a total transaction of $96,750.00. Following the sale, the chief financial officer owned 2,041,847 shares in the company, valued at $13,169,913.15. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after purchasing an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of LegalZoom.com by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares during the last quarter. Prelude Capital Management LLC raised its stake in LegalZoom.com by 11.6% in the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after purchasing an additional 1,470 shares in the last quarter. Chase Investment Counsel Corp raised its stake in LegalZoom.com by 12.3% in the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock valued at $135,000 after purchasing an additional 1,489 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in LegalZoom.com by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after purchasing an additional 1,705 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Company 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.