Vanguard Group Inc. Raises Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Vanguard Group Inc. increased its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 21.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,777,144 shares of the company’s stock after purchasing an additional 2,777,206 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of LegalZoom.com worth $178,282,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LZ. Technology Crossover Management IX Ltd. increased its stake in shares of LegalZoom.com by 14.6% in the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after purchasing an additional 2,094,240 shares in the last quarter. Wellington Management Group LLP grew its stake in LegalZoom.com by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,198,461 shares of the company’s stock valued at $13,111,000 after buying an additional 208,030 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LegalZoom.com by 15.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock valued at $11,833,000 after acquiring an additional 138,702 shares during the period. Hawk Ridge Capital Management LP lifted its position in shares of LegalZoom.com by 2.4% during the fourth quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after acquiring an additional 135,517 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of LegalZoom.com in the fourth quarter worth $378,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LZ. Raymond James started coverage on LegalZoom.com in a report on Wednesday, March 27th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of LegalZoom.com from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $14.00 target price on shares of LegalZoom.com in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

LegalZoom.com Price Performance

Shares of LZ opened at $8.16 on Thursday. LegalZoom.com, Inc. has a 1-year low of $7.95 and a 1-year high of $15.68. The company has a market capitalization of $1.54 billion, a P/E ratio of 74.18, a P/E/G ratio of 3.03 and a beta of 1.10. The firm’s 50 day simple moving average is $9.25 and its 200 day simple moving average is $10.85.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.87 million. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. On average, equities analysts anticipate that LegalZoom.com, Inc. will post 0.24 earnings per share for the current 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.