LegalZoom.com (NASDAQ:LZ) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of LegalZoom.com (NASDAQ:LZ) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on LZ. Weiss Ratings reissued a “hold (c)” rating on shares of LegalZoom.com in a report on Monday, December 29th. Wall Street Zen downgraded LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Morgan Stanley increased their price objective on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 13th. Barclays boosted their target price on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Citigroup cut their price target on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Friday, November 21st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.50.

LegalZoom.com Trading Down 1.9%

NASDAQ LZ opened at $8.70 on Monday. The firm has a market cap of $1.54 billion, a PE ratio of 72.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. LegalZoom.com has a 1-year low of $6.47 and a 1-year high of $12.40. The stock has a 50-day moving average of $9.72 and a 200-day moving average of $9.95.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The company had revenue of $190.16 million during the quarter, compared to analysts’ expectations of $183.27 million. During the same period last year, the firm earned $0.17 earnings per share. LegalZoom.com’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at LegalZoom.com

In related news, insider Nicole Miller sold 23,506 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total value of $226,362.78. Following the sale, the insider owned 868,627 shares in the company, valued at $8,364,878.01. This represents a 2.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Noel Bertram Watson sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total value of $143,400.00. Following the completion of the sale, the chief financial officer directly owned 1,551,582 shares in the company, valued at $14,833,123.92. This trade represents a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in LegalZoom.com during the 3rd quarter valued at $34,000. Parkside Financial Bank & Trust purchased a new stake in shares of LegalZoom.com during the third quarter valued at $40,000. Clearstead Advisors LLC boosted its position in shares of LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the last quarter. Osaic Holdings Inc. increased its holdings in LegalZoom.com by 477.3% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 worth $41,000 after buying an additional 4,140 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

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.