Algert Global LLC Trims Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Algert Global LLC lowered its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 46.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,123 shares of the company’s stock after selling 91,111 shares during the period. Algert Global LLC owned approximately 0.06% of LegalZoom.com worth $668,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. nVerses Capital LLC boosted its stake in LegalZoom.com by 16.2% in the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after purchasing an additional 2,200 shares during the period. Quarry LP boosted its position in shares of LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the period. Nisa Investment Advisors LLC grew its stake in LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares in the last quarter. Lombard Odier Asset Management USA Corp increased its holdings in LegalZoom.com by 29.6% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 22,795 shares of the company’s stock worth $191,000 after acquiring an additional 5,208 shares during the period. Finally, Quest Partners LLC lifted its stake in LegalZoom.com by 43.8% in the 2nd quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock worth $184,000 after purchasing an additional 6,682 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $7.93 on Friday. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $13.74. The company has a fifty day moving average of $7.24 and a 200-day moving average of $7.27. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 61.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

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

LegalZoom.com 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.