Avory & Company LLC Lowers Stock Position in LegalZoom.com, Inc. $LZ

Avory & Company LLC reduced its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 36.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,138 shares of the company’s stock after selling 132,171 shares during the period. LegalZoom.com accounts for about 1.7% of Avory & Company LLC’s holdings, making the stock its 16th biggest position. Avory & Company LLC’s holdings in LegalZoom.com were worth $1,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in LegalZoom.com by 268.8% in the 1st quarter. New York State Teachers Retirement System now owns 39,823 shares of the company’s stock valued at $226,000 after buying an additional 29,024 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of LegalZoom.com by 46.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 483,664 shares of the company’s stock worth $2,742,000 after buying an additional 152,312 shares during the last quarter. Strs Ohio grew its holdings in shares of LegalZoom.com by 41.4% in the first quarter. Strs Ohio now owns 104,100 shares of the company’s stock valued at $590,000 after acquiring an additional 30,500 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of LegalZoom.com in the first quarter valued at approximately $290,000. Finally, OP Asset Management Ltd purchased a new stake in shares of LegalZoom.com during the first quarter valued at approximately $670,000. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Stock Performance

Shares of LZ opened at $7.04 on Tuesday. The business has a 50-day moving average of $6.16 and a 200 day moving average of $7.12. LegalZoom.com, Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $12.40. The firm has a market cap of $1.21 billion, a P/E ratio of 117.35, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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%. LegalZoom.com’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, research analysts predict that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at LegalZoom.com

In other LegalZoom.com news, CEO Jeffrey M. Stibel acquired 125,000 shares of LegalZoom.com stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $6.15 per share, for a total transaction of $768,750.00. Following the purchase, the chief executive officer owned 2,955,609 shares of the company’s stock, valued at approximately $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Noel Bertram Watson sold 15,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $6.45, for a total transaction of $96,750.00. Following the sale, the chief financial officer directly owned 2,041,847 shares in the company, valued at $13,169,913.15. The trade was a 0.73% decrease in their position. The SEC filing for this sale provides additional information. 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LZ. Wall Street Zen cut LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup decreased their target price 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. JPMorgan Chase & Co. lowered their target price 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. Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday. Finally, UBS Group decreased their price objective on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.25.

About LegalZoom.com

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.