LegalZoom.com, Inc. $LZ Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,072,004 shares of the company’s stock after selling 718,104 shares during the quarter. Vanguard Group Inc. owned about 0.11% of LegalZoom.com worth $208,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of LegalZoom.com during the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust acquired a new stake in LegalZoom.com in the 3rd quarter valued at approximately $40,000. Osaic Holdings Inc. raised its stake in LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after acquiring an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in LegalZoom.com by 976.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after acquiring an additional 4,140 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in LegalZoom.com during the 2nd quarter worth $78,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicole Miller sold 23,325 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $6.63, for a total transaction of $154,644.75. Following the sale, the insider owned 813,033 shares in the company, valued at $5,390,408.79. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $6.96, for a total transaction of $104,400.00. Following the completion of the transaction, the chief financial officer directly owned 1,480,860 shares of the company’s stock, valued at $10,306,785.60. This represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on LZ. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Citigroup decreased their price objective on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, UBS Group dropped their target price on LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.42.

LegalZoom.com Stock Up 0.3%

Shares of NASDAQ LZ opened at $7.03 on Monday. The stock’s fifty day simple moving average is $8.63 and its 200 day simple moving average is $9.65. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 87.89, a PEG ratio of 1.53 and a beta of 1.25. LegalZoom.com, Inc. has a 52-week low of $6.14 and a 52-week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The company had revenue of $190.27 million during the quarter, compared to analyst estimates of $184.85 million. During the same quarter last year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

LegalZoom.com announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 19th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

About LegalZoom.com

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.