Principal Financial Group Inc. Sells 75,255 Shares of LegalZoom.com, Inc. $LZ

Principal Financial Group Inc. lessened its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 42.3% in the third quarter, Holdings Channel reports. The fund owned 102,720 shares of the company’s stock after selling 75,255 shares during the quarter. Principal Financial Group Inc.’s holdings in LegalZoom.com were worth $1,066,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. EP Wealth Advisors LLC increased its holdings in LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock valued at $368,000 after buying an additional 1,139 shares during the last quarter. Avory & Company LLC raised its holdings in LegalZoom.com by 0.4% in the 3rd quarter. Avory & Company LLC now owns 376,419 shares of the company’s stock worth $3,907,000 after purchasing an additional 1,586 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in LegalZoom.com by 2.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 75,394 shares of the company’s stock valued at $783,000 after purchasing an additional 1,657 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in LegalZoom.com by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock worth $646,000 after buying an additional 2,161 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of LegalZoom.com by 4.2% in the second quarter. Arkadios Wealth Advisors now owns 73,000 shares of the company’s stock worth $650,000 after buying an additional 2,924 shares during the period. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Performance

Shares of LZ opened at $6.97 on Thursday. The stock has a market capitalization of $1.24 billion, a PE ratio of 58.09, a P/E/G ratio of 1.16 and a beta of 1.22. The company’s fifty day moving average is $9.11 and its 200 day moving average is $9.80. LegalZoom.com, Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $12.40.

Analyst Ratings Changes

LZ has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Research cut LegalZoom.com from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Barclays upped their price target on LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Citigroup reduced their price objective on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, Wall Street Zen lowered shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.90.

LegalZoom.com 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.