California State Teachers Retirement System Reduces Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

California State Teachers Retirement System lowered its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 92,378 shares of the company’s stock after selling 24,400 shares during the quarter. California State Teachers Retirement System’s holdings in LegalZoom.com were worth $694,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after purchasing an additional 2,574,700 shares during the period. Nuveen Asset Management LLC raised its holdings in LegalZoom.com by 297.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock worth $8,799,000 after purchasing an additional 877,125 shares in the last quarter. Norges Bank purchased a new position in LegalZoom.com during the fourth quarter valued at $5,769,000. Ararat Capital Management LP lifted its position in LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock valued at $24,396,000 after buying an additional 682,678 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of LegalZoom.com by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock valued at $8,662,000 after buying an additional 585,734 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Stock Down 0.9%

NASDAQ:LZ opened at $9.19 on Thursday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 70.70, a PEG ratio of 1.73 and a beta of 1.25. The company’s 50 day moving average price is $8.25 and its 200-day moving average price is $8.49. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $183.11 million for the quarter, compared to analysts’ expectations of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LZ shares. Barclays increased their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Wall Street Zen raised LegalZoom.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.64.

LegalZoom.com Company Profile

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.