Jennison Associates LLC Purchases Shares of 108,219 LegalZoom.com, Inc. (NASDAQ:LZ)

Jennison Associates LLC acquired a new position in LegalZoom.com, Inc. (NASDAQ:LZ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 108,219 shares of the company’s stock, valued at approximately $687,000.

Several other institutional investors have also recently modified their holdings of LZ. Quarry LP lifted its stake in shares of LegalZoom.com by 318.9% in the 2nd 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 last quarter. Nisa Investment Advisors LLC lifted its position in LegalZoom.com by 179.8% in 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 during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of LegalZoom.com during the second quarter valued at approximately $71,000. Creative Planning bought a new position in shares of LegalZoom.com in the third quarter worth approximately $72,000. Finally, nVerses Capital LLC increased its stake in shares of LegalZoom.com by 16.2% in the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after buying an additional 2,200 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LZ shares. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price target on shares of LegalZoom.com in a report on Friday, November 8th. Barclays increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, William Blair initiated coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.67.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $7.83 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 60.24, a P/E/G ratio of 1.74 and a beta of 1.06. The stock has a 50 day moving average price of $7.11 and a 200-day moving average price of $7.31. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. On average, equities analysts forecast 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.