339,212 Shares in LegalZoom.com, Inc. $LZ Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 339,212 shares of the company’s stock, valued at approximately $1,923,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LZ. Arrowstreet Capital Limited Partnership raised its position in shares of LegalZoom.com by 20.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,408,170 shares of the company’s stock worth $45,757,000 after acquiring an additional 758,367 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of LegalZoom.com by 165.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock worth $37,044,000 after purchasing an additional 2,324,481 shares during the last quarter. Boston Partners boosted its position in LegalZoom.com by 81.0% during 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 in the last quarter. Franklin Resources Inc. boosted its position in LegalZoom.com by 2.8% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in LegalZoom.com by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,112,895 shares of the company’s stock valued at $17,650,000 after purchasing an additional 91,131 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Up 0.1%

LZ stock opened at $7.87 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of 131.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40. The firm has a 50 day moving average of $6.65 and a 200 day moving average of $6.80.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share (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 analyst estimates of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, equities research analysts expect that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at LegalZoom.com

In related news, insider Nicole Miller sold 19,199 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the transaction, the insider owned 1,119,222 shares in the company, valued at $7,364,480.76. This trade represents a 1.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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. Also, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the sale, the chief financial officer directly owned 2,041,847 shares of the company’s stock, valued at approximately $13,169,913.15. This represents a 0.73% decrease in their position. 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. 7.40% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.