LegalZoom.com (NASDAQ:LZ) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of LegalZoom.com (NASDAQ:LZ) from a buy rating to a hold rating in a report issued on Monday morning.

LZ has been the topic of a number of other reports. 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. UBS Group lowered their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. dropped their target price on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, June 24th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $8.25.

LegalZoom.com Stock Performance

Shares of LZ opened at $7.08 on Monday. LegalZoom.com has a fifty-two week low of $5.22 and a fifty-two week high of $12.40. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 118.02, a PEG ratio of 1.29 and a beta of 1.31. The firm has a 50 day moving average price of $6.45 and a 200-day moving average price of $6.90.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $206.78 million for the quarter, compared to the consensus estimate of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. LegalZoom.com’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. As a group, equities research analysts predict that LegalZoom.com will post 0.32 earnings per share for the current year.

Insider Transactions at LegalZoom.com

In related news, insider Nicole Miller sold 19,199 shares of LegalZoom.com stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the sale, the insider owned 1,119,222 shares in the company, valued at $7,364,480.76. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, CEO Jeffrey M. Stibel acquired 125,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $6.15 per share, for a total transaction of $768,750.00. Following the completion of the transaction, the chief executive officer owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. This represents a 4.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in shares of LegalZoom.com by 477.3% during the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after purchasing an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $41,000 after buying an additional 4,140 shares in the last quarter. Parallel Advisors LLC increased its position in LegalZoom.com by 8,589.8% during the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after buying an additional 5,068 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in LegalZoom.com during the fourth quarter valued at $74,000. Finally, Parkside Financial Bank & Trust raised its stake in LegalZoom.com by 91.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,433 shares of the company’s stock valued at $74,000 after buying an additional 3,550 shares during the last quarter. 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.