Noel Bertram Watson Sells 15,000 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, the chief financial officer owned 1,551,582 shares of the company’s stock, valued at approximately $14,833,123.92. The trade was a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Noel Bertram Watson also recently made the following trade(s):

• On Monday, August 25th, Noel Bertram Watson sold 27,319 shares of LegalZoom.com stock. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33.
• On Friday, August 22nd, Noel Bertram Watson sold 18,136 shares of LegalZoom.com stock. The shares were sold at an average price of $11.03, for a total value of $200,040.08.

LegalZoom.com Trading Down 3.0%

LegalZoom.com stock opened at $9.13 on Thursday. LegalZoom.com, Inc. has a 1-year low of $6.47 and a 1-year high of $12.40. The firm has a market capitalization of $1.62 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 3.29 and a beta of 1.23. The firm’s 50 day simple moving average is $10.25 and its 200 day simple moving average is $9.71.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $190.16 million for the quarter, compared to the consensus estimate of $183.27 million. LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on LZ. William Blair upgraded LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Bank of America raised LegalZoom.com from an “underperform” rating to a “buy” rating and increased their target price for the stock from $8.00 to $12.00 in a research report on Friday, August 8th. Barclays lifted their price target on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Morgan Stanley upped their price target on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 13th. Finally, Citigroup raised their price objective on LegalZoom.com from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LegalZoom.com presently has an average rating of “Hold” and an average price target of $11.33.

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in LegalZoom.com during the 1st quarter valued at about $18,585,000. Boston Partners purchased a new stake in shares of LegalZoom.com during the third quarter valued at approximately $20,686,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of LegalZoom.com during the third quarter valued at approximately $18,106,000. Driehaus Capital Management LLC bought a new position in LegalZoom.com in the 1st quarter valued at approximately $10,822,000. Finally, Qube Research & Technologies Ltd boosted its stake in LegalZoom.com by 180.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock valued at $16,014,000 after purchasing an additional 1,156,462 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

About LegalZoom.com

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.