Squarepoint Ops LLC grew its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ – Free Report) by 289.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 269,974 shares of the company’s stock after buying an additional 200,618 shares during the quarter. Squarepoint Ops LLC owned approximately 0.16% of LegalZoom.com worth $1,655,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of LZ. Bank of America Corp DE increased its holdings in LegalZoom.com by 187.4% in the 1st quarter. Bank of America Corp DE now owns 2,509,891 shares of the company’s stock worth $14,231,000 after purchasing an additional 1,636,487 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of LegalZoom.com by 579.1% during the first quarter. Principal Financial Group Inc. now owns 1,010,914 shares of the company’s stock valued at $5,732,000 after acquiring an additional 862,045 shares during the last quarter. Empowered Funds LLC bought a new position in shares of LegalZoom.com during the first quarter valued at $2,918,000. Punch & Associates Investment Management Inc. lifted its holdings in shares of LegalZoom.com by 23.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock worth $26,087,000 after purchasing an additional 500,787 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of LegalZoom.com during the first quarter worth $1,923,000. 81.99% of the stock is currently owned by institutional investors.
Insider Buying and Selling at LegalZoom.com
In other news, CFO Noel Watson sold 416,371 shares of LegalZoom.com stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $5.91, for a total transaction of $2,460,752.61. Following the sale, the chief financial officer owned 1,491,430 shares of the company’s stock, valued at approximately $8,814,351.30. The trade was a 21.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Miller sold 43,996 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.51, for a total transaction of $242,417.96. Following the transaction, the insider owned 976,932 shares in the company, valued at $5,382,895.32. This represents a 4.31% 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. Insiders sold a total of 577,475 shares of company stock valued at $3,375,197 over the last 90 days. Company insiders own 7.40% of the company’s stock.
LegalZoom.com Price Performance
Shares of NASDAQ:LZ opened at $6.23 on Wednesday. The stock’s 50-day moving average is $6.66 and its 200 day moving average is $6.36. The company has a market cap of $1.07 billion, a PE ratio of 69.22, a P/E/G ratio of 1.18 and a beta of 1.26. LegalZoom.com, Inc. has a 1 year low of $5.22 and a 1 year high of $12.40.
LegalZoom.com (NASDAQ:LZ – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The business had revenue of $205.29 million during the quarter, compared to analysts’ expectations of $205.83 million. During the same quarter last year, the business posted $0.15 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.
Wall Street Analyst Weigh In
LZ has been the topic of a number of analyst reports. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. William Blair lowered shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Finally, Citigroup reduced their price objective on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $7.30.
Get Our Latest Stock Analysis on LegalZoom.com
LegalZoom.com Profile
LegalZoom.com, Inc is an online platform that provides legal, compliance and business-related services to individuals, families and small businesses. The company helps customers complete common legal and administrative tasks through digital tools, guided document services and access to independent attorneys and other professionals.
Its business services include forming limited liability companies and corporations, obtaining registered-agent services, filing annual reports, managing business licenses and addressing tax-related requirements.
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