JPMorgan Chase & Co. reissued their overweight rating on shares of LegalZoom.com (NASDAQ:LZ – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $14.00 price target on the stock.
Several other equities research analysts also recently issued reports on LZ. JMP Securities reduced their price objective on LegalZoom.com from $15.00 to $14.00 and set a market outperform rating for the company in a research note on Friday, January 12th. Morgan Stanley raised their price objective on LegalZoom.com from $9.00 to $9.50 and gave the company an underweight rating in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $14.36.
LegalZoom.com Price Performance
LegalZoom.com (NASDAQ:LZ – Get Free Report) last announced its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. LegalZoom.com had a return on equity of 12.20% and a net margin of 1.28%. The business had revenue of $167.27 million during the quarter, compared to analysts’ expectations of $160.09 million. Equities research analysts expect that LegalZoom.com will post 0.15 earnings per share for the current fiscal year.
Insider Transactions at LegalZoom.com
In other news, EVP Nicole Miller sold 21,528 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $10.74, for a total transaction of $231,210.72. Following the completion of the transaction, the executive vice president now directly owns 275,965 shares of the company’s stock, valued at $2,963,864.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other LegalZoom.com news, CFO Noel Bertram Watson sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $11.17, for a total value of $279,250.00. Following the sale, the chief financial officer now owns 660,695 shares in the company, valued at $7,379,963.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicole Miller sold 21,528 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $10.74, for a total value of $231,210.72. Following the transaction, the executive vice president now owns 275,965 shares in the company, valued at approximately $2,963,864.10. The disclosure for this sale can be found here. Insiders sold 15,146,521 shares of company stock valued at $164,194,385 over the last three months. Company insiders own 44.60% of the company’s stock.
Hedge Funds Weigh In On LegalZoom.com
Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in LegalZoom.com during the 2nd quarter worth approximately $28,000. DekaBank Deutsche Girozentrale bought a new stake in LegalZoom.com during the 3rd quarter worth approximately $31,000. Lazard Asset Management LLC increased its holdings in LegalZoom.com by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 2,858 shares of the company’s stock worth $31,000 after purchasing an additional 1,546 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in LegalZoom.com during the 2nd quarter worth approximately $42,000. Finally, Parkside Financial Bank & Trust increased its holdings in LegalZoom.com by 116.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,722 shares of the company’s stock worth $41,000 after purchasing an additional 2,002 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.
LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.
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