Cibc World Markets Corp Acquires Shares of 11,994 LegalZoom.com, Inc. (NASDAQ:LZ)

Cibc World Markets Corp bought a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, Holdings Channel reports. The institutional investor bought 11,994 shares of the company’s stock, valued at approximately $90,000.

Several other hedge funds have also recently modified their holdings of LZ. Quarry LP raised its stake in LegalZoom.com by 83.4% in the 3rd quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after purchasing an additional 3,732 shares during the last quarter. Wexford Capital LP acquired a new stake in LegalZoom.com during the 3rd quarter worth $64,000. Aigen Investment Management LP purchased a new stake in shares of LegalZoom.com during the fourth quarter worth $76,000. Olympiad Research LP acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at about $78,000. Finally, Paloma Partners Management Co purchased a new position in shares of LegalZoom.com in the third quarter worth about $81,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Up 0.2 %

LZ stock opened at $9.19 on Friday. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $13.56. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 70.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The business has a fifty day moving average of $9.18 and a two-hundred day moving average of $8.02.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LZ shares. Barclays upped their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. UBS Group started coverage on LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Finally, William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.19.

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.