LegalZoom.com (NASDAQ:LZ) Shares Gap Down to $12.19

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) gapped down prior to trading on Wednesday . The stock had previously closed at $12.19, but opened at $9.81. LegalZoom.com shares last traded at $9.59, with a volume of 800,129 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James started coverage on LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 target price on shares of LegalZoom.com in a research note on Friday, April 12th. Barclays decreased their price target on shares of LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price objective on LegalZoom.com from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.36.

LegalZoom.com Price Performance

The firm has a 50-day moving average of $12.76 and a 200-day moving average of $11.53. The stock has a market cap of $1.74 billion, a PE ratio of 116.89, a PEG ratio of 4.18 and a beta of 1.24.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. The business had revenue of $158.66 million during the quarter, compared to analyst estimates of $156.25 million. Equities analysts forecast that LegalZoom.com, Inc. will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Francis Murphy sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $12.47, for a total transaction of $124,700.00. Following the completion of the transaction, the director now directly owns 40,507 shares of the company’s stock, valued at $505,122.29. The sale was disclosed in a filing with the SEC, which is available through this link. In other LegalZoom.com news, EVP Nicole Miller sold 24,557 shares of LegalZoom.com stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.75, for a total value of $239,430.75. Following the completion of the transaction, the executive vice president now directly owns 208,641 shares of the company’s stock, valued at approximately $2,034,249.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Francis Murphy sold 10,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $12.47, for a total transaction of $124,700.00. Following the sale, the director now owns 40,507 shares in the company, valued at $505,122.29. The disclosure for this sale can be found here. Insiders have sold a total of 60,555 shares of company stock worth $664,688 in the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of LegalZoom.com

Institutional investors have recently bought and sold shares of the stock. Technology Crossover Management IX Ltd. lifted its holdings in LegalZoom.com by 14.6% during the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after buying an additional 2,094,240 shares during the period. Vanguard Group Inc. increased its holdings in shares of LegalZoom.com by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after purchasing an additional 2,777,206 shares during the period. Hawk Ridge Capital Management LP raised its stake in shares of LegalZoom.com by 2.4% in the fourth quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after purchasing an additional 135,517 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of LegalZoom.com by 166.0% during the third quarter. Blair William & Co. IL now owns 3,476,226 shares of the company’s stock worth $38,030,000 after purchasing an additional 2,169,132 shares during the period. Finally, Boston Partners boosted its position in LegalZoom.com by 83.0% in the third quarter. Boston Partners now owns 3,315,845 shares of the company’s stock valued at $35,877,000 after buying an additional 1,504,152 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.