Neumeier Poma Investment Counsel LLC lessened its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ – Free Report) by 8.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,597,435 shares of the company’s stock after selling 146,920 shares during the period. Neumeier Poma Investment Counsel LLC’s holdings in LegalZoom.com were worth $15,863,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. EP Wealth Advisors LLC raised its holdings in LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after acquiring an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after acquiring an additional 1,403 shares in the last quarter. Clearstead Advisors LLC raised its holdings in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares in the last quarter. Prelude Capital Management LLC raised its holdings in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in LegalZoom.com by 12.3% during the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after acquiring an additional 1,489 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.
Insider Activity
In other news, CEO Jeffrey M. Stibel bought 125,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $6.15 per share, with a total value of $768,750.00. Following the completion of the transaction, the chief executive officer owned 2,955,609 shares of the company’s stock, valued at $18,176,995.35. This trade represents a 4.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.45, for a total value of $96,750.00. Following the completion of the transaction, the chief financial officer directly owned 2,041,847 shares in the company, valued at $13,169,913.15. The trade was a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.90% of the stock is owned by company insiders.
LegalZoom.com Stock Down 4.1%
LegalZoom.com (NASDAQ:LZ – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The business had revenue of $206.78 million during the quarter, compared to the consensus estimate of $202.14 million. During the same quarter in the prior year, the company earned $0.13 EPS. LegalZoom.com’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current year.
LegalZoom.com declared that its board has approved a stock repurchase plan on Thursday, February 19th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
LZ has been the topic of several analyst reports. Citigroup dropped their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Weiss Ratings lowered LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Barclays restated an “underweight” rating and issued a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. Zacks Research upgraded LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, UBS Group dropped their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.75.
Read Our Latest Report on LegalZoom.com
LegalZoom.com Company Profile
LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.
Founded in 2001 by entrepreneurs Brian Lee, Brian P.
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