LegalZoom.com (NASDAQ:LZ) Trading 1.7% Higher

LegalZoom.com, Inc. (NASDAQ:LZGet Rating)’s share price traded up 1.7% on Friday . The company traded as high as $8.42 and last traded at $8.40. 13,823 shares were traded during trading, a decline of 99% from the average session volume of 1,118,614 shares. The stock had previously closed at $8.26.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JMP Securities downgraded shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 6th. Morgan Stanley reduced their price target on shares of LegalZoom.com from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday. Credit Suisse Group reduced their price target on shares of LegalZoom.com from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, August 12th. Barclays dropped their target price on shares of LegalZoom.com to $16.00 in a research note on Monday, August 15th. Finally, Moffett Nathanson began coverage on shares of LegalZoom.com in a research note on Thursday. They issued an “underperform” rating and a $11.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.88.

LegalZoom.com Stock Performance

The business’s 50-day moving average is $10.49 and its 200 day moving average is $12.18.

LegalZoom.com (NASDAQ:LZGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). LegalZoom.com had a negative net margin of 17.14% and a negative return on equity of 49.38%. The firm had revenue of $163.87 million for the quarter, compared to analyst estimates of $161.29 million. During the same period last year, the firm earned ($0.30) EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that LegalZoom.com, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at LegalZoom.com

In other LegalZoom.com news, CEO Daniel A. Wernikoff sold 15,977 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $11.46, for a total transaction of $183,096.42. Following the sale, the chief executive officer now directly owns 441,159 shares of the company’s stock, valued at $5,055,682.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other LegalZoom.com news, CFO Noel Bertram Watson sold 23,643 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $11.46, for a total value of $270,948.78. Following the completion of the sale, the chief financial officer now owns 496,188 shares of the company’s stock, valued at $5,686,314.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Wernikoff sold 15,977 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $11.46, for a total value of $183,096.42. Following the completion of the sale, the chief executive officer now directly owns 441,159 shares of the company’s stock, valued at approximately $5,055,682.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,370 shares of company stock worth $1,012,720. 45.90% of the stock is owned by corporate insiders.

Institutional Trading of LegalZoom.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LZ. Spearhead Capital Advisors LLC purchased a new position in shares of LegalZoom.com during the 1st quarter valued at about $285,000. Victory Capital Management Inc. lifted its stake in shares of LegalZoom.com by 9.1% during the 1st quarter. Victory Capital Management Inc. now owns 12,821 shares of the company’s stock worth $184,000 after purchasing an additional 1,068 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in shares of LegalZoom.com in the first quarter worth about $2,503,000. Hawk Ridge Capital Management LP boosted its position in LegalZoom.com by 143.8% during the first quarter. Hawk Ridge Capital Management LP now owns 3,906,537 shares of the company’s stock worth $55,238,000 after purchasing an additional 2,303,988 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in LegalZoom.com by 517.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 439,300 shares of the company’s stock worth $7,060,000 after purchasing an additional 368,197 shares in the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

About LegalZoom.com

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LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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