LegalZoom.com, Inc. (NASDAQ:LZ) Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. decreased its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,481 shares of the company’s stock after selling 43,911 shares during the quarter. EFG Asset Management North America Corp.’s holdings in LegalZoom.com were worth $792,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in LegalZoom.com by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after purchasing an additional 1,158,252 shares in the last quarter. Technology Crossover Management IX Ltd. grew its position in LegalZoom.com by 14.6% during the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after purchasing an additional 2,094,240 shares in the last quarter. Hawk Ridge Capital Management LP grew its position in LegalZoom.com by 2.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after purchasing an additional 135,517 shares in the last quarter. Westwood Holdings Group Inc. grew its position in LegalZoom.com by 62.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock worth $64,282,000 after purchasing an additional 1,843,427 shares in the last quarter. Finally, Blair William & Co. IL grew its position in LegalZoom.com by 5.4% during the 1st quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after purchasing an additional 195,512 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on LZ shares. JMP Securities cut shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 10th. Citigroup lowered shares of LegalZoom.com from a “buy” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $8.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered shares of LegalZoom.com from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $9.00 in a research note on Wednesday, July 10th. Bank of America lowered shares of LegalZoom.com from a “buy” rating to an “underperform” rating and decreased their target price for the company from $13.00 to $6.00 in a research note on Wednesday, July 10th. Finally, Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.93.

LegalZoom.com Price Performance

Shares of LZ stock traded down $0.07 on Monday, hitting $6.55. The company’s stock had a trading volume of 420,722 shares, compared to its average volume of 1,742,464. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The firm’s fifty day moving average price is $6.91 and its 200-day moving average price is $9.71. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 60.45, a P/E/G ratio of 4.44 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. The business had revenue of $177.36 million during the quarter, compared to analyst estimates of $172.92 million. During the same quarter in the previous year, the business earned $0.02 EPS. LegalZoom.com’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that LegalZoom.com, Inc. will post 0.23 EPS for the current fiscal year.

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.