Maverick Capital Ltd. Has $713,000 Position in LegalZoom.com, Inc. $LZ

Maverick Capital Ltd. lessened its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 74.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 125,663 shares of the company’s stock after selling 370,371 shares during the quarter. Maverick Capital Ltd.’s holdings in LegalZoom.com were worth $713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in LegalZoom.com by 20.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,408,170 shares of the company’s stock valued at $45,757,000 after acquiring an additional 758,367 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of LegalZoom.com by 165.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock worth $37,044,000 after acquiring an additional 2,324,481 shares during the period. Boston Partners grew its position in shares of LegalZoom.com by 81.0% in the fourth quarter. Boston Partners now owns 3,623,111 shares of the company’s stock valued at $36,054,000 after purchasing an additional 1,621,125 shares during the last quarter. Franklin Resources Inc. grew its position in shares of LegalZoom.com by 2.8% in the third quarter. Franklin Resources Inc. now owns 3,327,296 shares of the company’s stock valued at $34,537,000 after purchasing an additional 90,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of LegalZoom.com by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,112,895 shares of the company’s stock worth $17,650,000 after purchasing an additional 91,131 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup dropped their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Wall Street Zen raised LegalZoom.com from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, June 24th. Finally, UBS Group reduced their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average price target of $8.25.

LegalZoom.com Trading Up 6.9%

NASDAQ LZ opened at $8.08 on Wednesday. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40. The company has a 50 day moving average of $6.55 and a 200-day moving average of $6.83. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 134.69, a PEG ratio of 1.33 and a beta of 1.31.

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

Insider Transactions at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $6.45, for a total transaction of $96,750.00. Following the completion of the sale, the chief financial officer owned 2,041,847 shares of the company’s stock, valued at $13,169,913.15. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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, insider Nicole Miller sold 19,199 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the sale, the insider owned 1,119,222 shares in the company, valued at $7,364,480.76. The trade was a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. 7.40% of the stock is currently owned by insiders.

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.