118,159 Shares in LegalZoom.com, Inc. $LZ Purchased by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 118,159 shares of the company’s stock, valued at approximately $670,000. OP Asset Management Ltd owned 0.07% of LegalZoom.com as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in shares of LegalZoom.com by 165.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock valued at $37,044,000 after purchasing an additional 2,324,481 shares during the last quarter. Boston Partners purchased a new stake in LegalZoom.com in the third quarter worth approximately $20,686,000. Qube Research & Technologies Ltd grew its position in LegalZoom.com by 180.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after purchasing an additional 1,156,462 shares during the period. Norges Bank bought a new stake in LegalZoom.com in the 4th quarter worth approximately $10,526,000. Finally, Lazard Asset Management LLC raised its stake in LegalZoom.com by 507.3% during the 2nd quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock valued at $9,842,000 after buying an additional 922,829 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Up 0.2%

LZ opened at $6.12 on Wednesday. The firm’s 50 day simple moving average is $6.13 and its two-hundred day simple moving average is $7.21. The company has a market capitalization of $1.05 billion, a PE ratio of 102.10, a PEG ratio of 1.08 and a beta of 1.31. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued 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). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The business had revenue of $206.78 million for the quarter, compared to the consensus estimate of $202.14 million. During the same period in the previous year, the firm earned $0.13 EPS. The company’s revenue was up 12.9% on a year-over-year basis. Equities analysts forecast that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at LegalZoom.com

In related news, CEO Jeffrey M. Stibel purchased 125,000 shares of LegalZoom.com stock in a transaction on Monday, May 11th. The stock was acquired 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 directly owned 2,955,609 shares in the company, valued at $18,176,995.35. This represents a 4.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Miller sold 19,199 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the transaction, the insider directly owned 1,119,222 shares in the company, valued at $7,364,480.76. This trade represents a 1.69% 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. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LZ has been the topic of several research analyst reports. Barclays reissued an “underweight” rating and set a $6.00 price target (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. JPMorgan Chase & Co. cut their price objective on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, June 24th. Citigroup reduced their price objective on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. UBS Group dropped their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings cut LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.25.

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.