LegalZoom.com (NASDAQ:LZ) Insider Sells 23,325 Shares

by · The Markets Daily

LegalZoom.com, Inc. (NASDAQ:LZ – Get Free Report) insider Nicole Miller sold 23,325 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $6.63, for a total transaction of $154,644.75. Following the sale, the insider directly owned 813,033 shares in the company, valued at $5,390,408.79. The trade was a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ traded up $0.02 during midday trading on Friday, reaching $7.03. 3,766,793 shares of the company’s stock traded hands, compared to its average volume of 3,993,420. The company has a fifty day simple moving average of $8.70 and a two-hundred day simple moving average of $9.69. LegalZoom.com, Inc. has a 1 year low of $6.14 and a 1 year high of $12.40. The company has a market cap of $1.22 billion, a P/E ratio of 87.89, a PEG ratio of 1.43 and a beta of 1.22.

LegalZoom.com (NASDAQ:LZ – Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $184.85 million. LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.LegalZoom.com’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, research analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

LegalZoom.com announced that its Board of Directors has initiated a share buyback plan on Thursday, February 19th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LZ. EP Wealth Advisors LLC increased its stake in 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 acquiring an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of LegalZoom.com by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock valued at $51,000 after purchasing an additional 1,403 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of LegalZoom.com by 58.5% during the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the period. Prelude Capital Management LLC increased its position in LegalZoom.com by 11.6% during the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings 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 buying an additional 1,489 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group cut their price target on shares of LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Citigroup lowered their price objective on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Friday, November 21st. Zacks Research upgraded LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday. William Blair raised LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley raised their price objective on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.42.

Get Our Latest Analysis on LZ

About LegalZoom.com

(Get Free Report)

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.

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