LegalZoom.com, Inc. (NASDAQ:LZ) Given Consensus Recommendation of “Hold” by Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.25.

LZ has been the topic of a number of analyst reports. Weiss Ratings cut shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Citigroup cut their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. UBS Group reduced their price target on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 24th.

Insider Buying and Selling at LegalZoom.com

In other news, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the sale, the insider directly owned 1,119,222 shares in the company, valued at $7,364,480.76. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a 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 purchased 125,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $18,176,995.35. This trade represents a 4.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.90% of the company’s stock.

Institutional Trading of LegalZoom.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after purchasing an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 4,140 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of LegalZoom.com by 11,415.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after purchasing an additional 7,534 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of LegalZoom.com by 8,589.8% in the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock worth $53,000 after purchasing an additional 5,068 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of LegalZoom.com in the first quarter worth $58,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Up 5.6%

NASDAQ LZ opened at $6.92 on Friday. The company’s 50 day moving average is $6.14 and its 200-day moving average is $7.16. LegalZoom.com has a 12-month low of $5.22 and a 12-month high of $12.40. The firm has a market cap of $1.19 billion, a P/E ratio of 115.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $206.78 million for the quarter, compared to analysts’ expectations of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Equities analysts expect that LegalZoom.com will post 0.32 EPS for the current year.

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.