Verition Fund Management LLC Has $184,000 Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Verition Fund Management LLC lessened its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 93.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,940 shares of the company’s stock after selling 426,261 shares during the period. Verition Fund Management LLC’s holdings in LegalZoom.com were worth $184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares during the period. Nisa Investment Advisors LLC raised its position 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 purchasing an additional 3,919 shares in the last quarter. Point72 DIFC Ltd bought a new stake in LegalZoom.com during the second quarter worth $71,000. Creative Planning acquired a new stake in shares of LegalZoom.com in the 3rd quarter valued at $72,000. Finally, nVerses Capital LLC increased its stake in shares of LegalZoom.com by 16.2% in the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock valued at $100,000 after purchasing an additional 2,200 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LZ. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price target on shares of LegalZoom.com in a report on Friday, November 8th. Barclays boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Finally, William Blair began coverage on LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.79.

LegalZoom.com Stock Up 0.6 %

NASDAQ:LZ opened at $8.12 on Tuesday. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.74. The company has a fifty day moving average of $7.60 and a 200-day moving average of $7.19. The firm has a market capitalization of $1.40 billion, a P/E ratio of 62.46, a P/E/G ratio of 1.90 and a beta of 1.10.

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

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.