Wall Street Zen cut shares of LegalZoom.com (NASDAQ:LZ – Free Report) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.
Other equities analysts have also issued reports about the company. William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lowered their price target on shares of LegalZoom.com from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Weiss Ratings downgraded shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $7.10.
Check Out Our Latest Research Report on LegalZoom.com
LegalZoom.com Stock Down 7.4%
Shares of NASDAQ:LZ opened at $4.85 on Friday. The firm has a market cap of $830.61 million, a P/E ratio of 40.42, a P/E/G ratio of 1.30 and a beta of 1.16. LegalZoom.com has a 12-month low of $4.78 and a 12-month high of $10.51. The business has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $6.48.
LegalZoom.com (NASDAQ:LZ – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. LegalZoom.com had a return on equity of 23.09% and a net margin of 2.56%. The firm had revenue of $195.15 million for the quarter, compared to the consensus estimate of $193.83 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that LegalZoom.com will post 0.32 EPS for the current year.
Insiders Place Their Bets
In other LegalZoom.com news, insider Nicole Miller sold 33,479 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $5.51, for a total transaction of $184,469.29. Following the completion of the sale, the insider directly owned 943,453 shares in the company, valued at approximately $5,198,426.03. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, CFO Noel Watson sold 83,629 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $5.83, for a total value of $487,557.07. Following the sale, the chief financial officer owned 1,407,801 shares of the company’s stock, valued at approximately $8,207,479.83. The trade was a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 577,475 shares of company stock worth $3,375,197 in the last ninety days. Insiders own 7.40% of the company’s stock.
Institutional Investors Weigh In On LegalZoom.com
Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in LegalZoom.com by 255.1% in the second quarter. Allworth Financial LP now owns 5,014 shares of the company’s stock worth $31,000 after purchasing an additional 3,602 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of LegalZoom.com by 11,415.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock worth $43,000 after buying an additional 7,534 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $47,000. Cetera Investment Advisers bought a new position in shares of LegalZoom.com during the 1st quarter worth approximately $58,000. Finally, Headlands Technologies LLC bought a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $67,000. Institutional investors own 81.99% of the company’s stock.
About LegalZoom.com
LegalZoom.com, Inc is an online platform that provides legal, compliance and tax-related products and services to individuals, families and small businesses. The company’s platform is designed to make common legal and administrative processes more accessible through digital tools, guided services and access to independent professionals.
LegalZoom’s offerings include business formation services for limited liability companies and corporations, registered-agent services, annual compliance support, business licensing and trademark services.
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