Atom Investors LP Reduces Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Atom Investors LP cut its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 8.6% during the third quarter, Holdings Channel.com reports. The firm owned 631,411 shares of the company’s stock after selling 59,592 shares during the quarter. Atom Investors LP’s holdings in LegalZoom.com were worth $4,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after purchasing an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of LegalZoom.com during the second quarter valued at about $71,000. Creative Planning purchased a new stake in shares of LegalZoom.com in the 3rd quarter valued at approximately $72,000. Finally, Paloma Partners Management Co acquired a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $81,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

LegalZoom.com stock opened at $7.93 on Monday. The stock’s fifty day moving average is $7.24 and its two-hundred day moving average is $7.25. The stock has a market cap of $1.37 billion, a PE ratio of 61.00, a P/E/G ratio of 1.78 and a beta of 1.06. LegalZoom.com, Inc. has a 1-year low of $5.33 and a 1-year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LZ. Barclays boosted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. William Blair initiated coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating for the company. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup upped their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.75.

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.