Arrowstreet Capital Limited Partnership Raises Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Arrowstreet Capital Limited Partnership grew its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 2,178.2% during the fourth quarter, Holdings Channel reports. The fund owned 518,728 shares of the company’s stock after purchasing an additional 495,959 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in LegalZoom.com were worth $3,896,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its position in shares of LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after purchasing an additional 3,732 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of LegalZoom.com during the 4th quarter valued at $76,000. Olympiad Research LP bought a new stake in shares of LegalZoom.com during the 4th quarter valued at $78,000. Sei Investments Co. purchased a new stake in shares of LegalZoom.com in the 4th quarter worth about $83,000. Finally, Cibc World Markets Corp bought a new position in shares of LegalZoom.com in the 4th quarter worth about $90,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Down 2.4 %

Shares of LZ stock opened at $7.31 on Wednesday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.36. The stock’s 50-day moving average price is $9.10 and its 200-day moving average price is $8.13.

Analyst Upgrades and Downgrades

LZ has been the topic of a number of recent research reports. Barclays upped their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Morgan Stanley upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. William Blair restated a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to 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.