Summit Trail Advisors LLC Sells 4,045 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Summit Trail Advisors LLC lowered its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 133,538 shares of the company’s stock after selling 4,045 shares during the quarter. Summit Trail Advisors LLC’s holdings in LegalZoom.com were worth $1,509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new position in LegalZoom.com during the third quarter worth about $31,000. Parkside Financial Bank & Trust increased its stake in LegalZoom.com by 116.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 3,722 shares of the company’s stock valued at $41,000 after buying an additional 2,002 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of LegalZoom.com in the 3rd quarter valued at about $56,000. New York State Teachers Retirement System lifted its position in LegalZoom.com by 686.8% during the fourth quarter. New York State Teachers Retirement System now owns 10,606 shares of the company’s stock worth $120,000 after acquiring an additional 9,258 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of LegalZoom.com during the fourth quarter worth $157,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on LZ. JMP Securities reissued a “market outperform” rating and set a $14.00 target price on shares of LegalZoom.com in a report on Friday, April 12th. Raymond James initiated coverage on shares of LegalZoom.com in a report on Wednesday, March 27th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Barclays reduced their price objective on LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.36.

LegalZoom.com Trading Up 1.0 %

Shares of LZ traded up $0.12 during midday trading on Monday, reaching $12.05. The stock had a trading volume of 1,316,020 shares, compared to its average volume of 1,197,013. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 150.63, a price-to-earnings-growth ratio of 4.18 and a beta of 1.24. LegalZoom.com, Inc. has a 12-month low of $7.78 and a 12-month high of $15.68. The company’s 50-day moving average is $12.74 and its 200 day moving average is $11.50.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $158.66 million for the quarter, compared to analyst estimates of $156.25 million. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. Research analysts forecast that LegalZoom.com, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction on Friday, March 15th. The shares were sold at an average price of $13.17, for a total value of $124,614.54. Following the sale, the chief operating officer now owns 498,519 shares in the company, valued at $6,565,495.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other LegalZoom.com news, EVP Nicole Miller sold 16,536 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.64, for a total transaction of $175,943.04. Following the completion of the sale, the executive vice president now directly owns 233,198 shares in the company, valued at approximately $2,481,226.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Richard Preece sold 9,462 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $13.17, for a total transaction of $124,614.54. Following the sale, the chief operating officer now owns 498,519 shares in the company, valued at approximately $6,565,495.23. The disclosure for this sale can be found here. Insiders have sold a total of 60,555 shares of company stock worth $664,688 in the last ninety days. 44.60% of the stock is owned by insiders.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.