Insider Selling: LegalZoom.com (NASDAQ:LZ) CFO Sells $2,460,752.61 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ – Get Free Report) CFO Noel Bertram Watson sold 416,371 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $5.91, for a total transaction of $2,460,752.61. Following the transaction, the chief financial officer directly owned 1,491,430 shares in the company, valued at $8,814,351.30. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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• On Friday, August 21st, Noel Bertram Watson sold 83,629 shares of LegalZoom.com stock. The shares were sold at an average price of $5.83, for a total value of $487,557.07.

LegalZoom.com Trading Down 0.3%

Shares of LegalZoom.com stock traded down $0.02 during trading hours on Friday, hitting $5.84. 2,094,701 shares of the company were exchanged, compared to its average volume of 3,302,388. The business has a 50-day moving average of $6.67 and a 200-day moving average of $6.50. LegalZoom.com, Inc. has a 1 year low of $5.22 and a 1 year high of $12.40. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 64.89, a P/E/G ratio of 1.10 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The company had revenue of $205.29 million for the quarter, compared to analyst estimates of $205.83 million. During the same quarter in the previous year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Citigroup dropped their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.30.

Read Our Latest Stock Report on LZ

Institutional Trading of LegalZoom.com

Institutional investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. lifted its stake in LegalZoom.com by 255.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 231,773 shares of the company’s stock valued at $2,302,000 after buying an additional 166,574 shares in the last quarter. UBS Group AG increased its position in shares of LegalZoom.com by 87.9% in the fourth quarter. UBS Group AG now owns 613,537 shares of the company’s stock worth $6,092,000 after acquiring an additional 287,063 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of LegalZoom.com by 23.6% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock worth $26,087,000 after acquiring an additional 500,787 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of LegalZoom.com by 579.1% during the first quarter. Principal Financial Group Inc. now owns 1,010,914 shares of the company’s stock valued at $5,732,000 after acquiring an additional 862,045 shares during the period. Finally, Hawk Ridge Capital Management LP raised its holdings in shares of LegalZoom.com by 48.7% during the first quarter. Hawk Ridge Capital Management LP now owns 735,929 shares of the company’s stock valued at $4,173,000 after acquiring an additional 241,100 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

About LegalZoom.com

(Get Free Report)

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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