Hsbc Holdings PLC Trims Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Hsbc Holdings PLC reduced its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,907 shares of the company’s stock after selling 1,597 shares during the quarter. Hsbc Holdings PLC’s holdings in LegalZoom.com were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LZ. Aigen Investment Management LP purchased a new stake in LegalZoom.com in the fourth quarter valued at $76,000. Olympiad Research LP acquired a new stake in shares of LegalZoom.com during the 4th quarter worth about $78,000. Sei Investments Co. purchased a new stake in LegalZoom.com in the 4th quarter valued at about $83,000. Cibc World Markets Corp acquired a new position in LegalZoom.com in the fourth quarter valued at about $90,000. Finally, Lexington Partners L.P. purchased a new position in LegalZoom.com during the fourth quarter worth about $103,000. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Trading Up 0.7%

Shares of LZ opened at $9.02 on Monday. The company’s 50 day simple moving average is $8.19 and its 200-day simple moving average is $8.25. The firm has a market cap of $1.59 billion, a PE ratio of 69.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $10.60.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $183.11 million during the quarter, compared to the consensus estimate of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities research analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Morgan Stanley boosted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday. Barclays upped their price target on LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.