Janus Henderson Group PLC Sells 354,675 Shares of LegalZoom.com, Inc. $LZ

Janus Henderson Group PLC lowered its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 88.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 47,800 shares of the company’s stock after selling 354,675 shares during the quarter. Janus Henderson Group PLC’s holdings in LegalZoom.com were worth $271,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its position in LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after buying an additional 3,766 shares during the period. EverSource Wealth Advisors LLC increased its position in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after acquiring an additional 4,140 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of LegalZoom.com by 11,415.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after acquiring an additional 7,534 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of LegalZoom.com by 8,589.8% during the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after acquiring an additional 5,068 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of LegalZoom.com during the first quarter worth $58,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. William Blair cut shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Citigroup lowered their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. UBS Group reduced their price target on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $7.30.

Insider Transactions at LegalZoom.com

In related news, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the sale, the insider owned 1,119,222 shares in the company, valued at $7,364,480.76. This represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the sale, the chief financial officer directly owned 2,041,847 shares of the company’s stock, valued at $13,169,913.15. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Company insiders own 7.40% of the company’s stock.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $5.44 on Wednesday. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40. The firm’s fifty day moving average is $6.69 and its 200-day moving average is $6.67. The firm has a market cap of $931.65 million, a P/E ratio of 60.44, a P/E/G ratio of 1.00 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $205.29 million during the quarter, compared to the consensus estimate of $205.83 million. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. LegalZoom.com’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.35 earnings per share for the current year.

LegalZoom.com Company Profile

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.