Neumeier Poma Investment Counsel LLC Invests $18.11 Million in LegalZoom.com, Inc. $LZ

Neumeier Poma Investment Counsel LLC acquired a new position in LegalZoom.com, Inc. (NASDAQ:LZ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,744,355 shares of the company’s stock, valued at approximately $18,106,000. Neumeier Poma Investment Counsel LLC owned about 0.98% of LegalZoom.com at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LZ. Franklin Resources Inc. lifted its position in shares of LegalZoom.com by 0.4% in the second quarter. Franklin Resources Inc. now owns 3,236,697 shares of the company’s stock worth $28,839,000 after buying an additional 12,171 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LegalZoom.com by 60.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,170,327 shares of the company’s stock worth $22,528,000 after acquiring an additional 817,462 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of LegalZoom.com by 180.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after purchasing an additional 1,156,462 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of LegalZoom.com by 77.9% during the second quarter. AQR Capital Management LLC now owns 1,671,966 shares of the company’s stock valued at $14,897,000 after acquiring an additional 731,967 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of LegalZoom.com by 87.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,388,664 shares of the company’s stock worth $12,358,000 after buying an additional 648,601 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock opened at $6.55 on Thursday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 81.89, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. LegalZoom.com, Inc. has a 12 month low of $6.14 and a 12 month high of $12.40. The business has a 50-day moving average of $8.76 and a 200 day moving average of $9.71.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The business had revenue of $190.27 million during the quarter, compared to analyst estimates of $184.85 million. During the same quarter last year, the firm earned $0.19 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Equities research analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

LegalZoom.com declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 19th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

LZ has been the topic of several recent research reports. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Citigroup lowered their price target on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Morgan Stanley lifted their price target on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.42.

Insider Activity at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total transaction of $104,400.00. Following the sale, the chief financial officer directly owned 1,480,860 shares in the company, valued at approximately $10,306,785.60. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.