SEB Asset Management AB Invests $1.88 Million in LegalZoom.com, Inc. $LZ

SEB Asset Management AB bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 331,668 shares of the company’s stock, valued at approximately $1,881,000. SEB Asset Management AB owned about 0.19% of LegalZoom.com at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in LegalZoom.com by 20.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,408,170 shares of the company’s stock valued at $45,757,000 after purchasing an additional 758,367 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of LegalZoom.com by 165.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock worth $37,044,000 after buying an additional 2,324,481 shares during the period. Boston Partners raised its holdings in LegalZoom.com by 81.0% during the 4th quarter. Boston Partners now owns 3,623,111 shares of the company’s stock valued at $36,054,000 after buying an additional 1,621,125 shares during the last quarter. Franklin Resources Inc. raised its holdings in LegalZoom.com by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,327,296 shares of the company’s stock valued at $34,537,000 after buying an additional 90,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in LegalZoom.com by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,021,764 shares of the company’s stock valued at $30,007,000 after buying an additional 340,780 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LZ shares. Citigroup cut their target price 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 reduced their price objective on shares of 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. decreased their price objective on shares of LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, June 24th. Wall Street Zen cut shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LegalZoom.com in a research note 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.25.

Insider Buying and Selling

In other LegalZoom.com news, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction dated 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 approximately $7,364,480.76. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.45, for a total transaction of $96,750.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 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. 7.40% of the stock is currently owned by insiders.

LegalZoom.com Stock Down 0.4%

NASDAQ LZ opened at $7.05 on Friday. The firm has a market capitalization of $1.21 billion, a PE ratio of 117.52, a P/E/G ratio of 1.25 and a beta of 1.31. The stock’s 50 day moving average is $6.47 and its 200 day moving average is $6.88. LegalZoom.com, Inc. has a twelve month low of $5.22 and a twelve month high of $12.40.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $206.78 million during the quarter, compared to the consensus estimate of $202.14 million. LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.LegalZoom.com’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. On average, research analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

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.