Nicole Miller Sells 33,479 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 33,479 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $5.51, for a total transaction of $184,469.29. Following the sale, the insider directly owned 943,453 shares in the company, valued at approximately $5,198,426.03. The trade was a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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.

Nicole Miller also recently made the following trade(s):

• On Monday, August 17th, Nicole Miller sold 43,996 shares of LegalZoom.com stock. The stock was sold at an average price of $5.51, for a total transaction of $242,417.96.

LegalZoom.com Trading Up 3.0%

Shares of LegalZoom.com stock opened at $5.86 on Thursday. The company has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $6.52. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 65.11, a PEG ratio of 1.07 and a beta of 1.28. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The firm had revenue of $205.29 million for the quarter, compared to analyst estimates of $205.83 million. During the same period last year, the business earned $0.15 EPS. LegalZoom.com’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, LegalZoom.com has a consensus rating of “Reduce” and an average target price of $7.30.

Hedge Funds Weigh In On LegalZoom.com

A number of hedge funds and other institutional investors have recently made changes to their positions in LZ. Hsbc Holdings PLC increased its position in LegalZoom.com by 235.4% in the 2nd quarter. Hsbc Holdings PLC now owns 138,962 shares of the company’s stock valued at $847,000 after acquiring an additional 97,535 shares during the period. Caitlin John LLC acquired a new stake in LegalZoom.com during the 2nd quarter worth approximately $366,000. Punch & Associates Investment Management Inc. lifted its position in LegalZoom.com by 6.0% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 2,850,501 shares of the company’s stock worth $17,474,000 after acquiring an additional 161,231 shares during the period. Pacer Advisors Inc. lifted its position in LegalZoom.com by 53.6% during the 1st quarter. Pacer Advisors Inc. now owns 926,425 shares of the company’s stock worth $5,253,000 after acquiring an additional 323,201 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of 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 valued at $14,231,000 after purchasing an additional 1,636,487 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.