LegalZoom.com (NASDAQ:LZ) CFO Sells $96,750.00 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the completion of the sale, the chief financial officer owned 2,041,847 shares of the company’s stock, valued at approximately $13,169,913.15. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Noel Bertram Watson also recently made the following trade(s):

• On Wednesday, February 18th, Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock. The stock was sold at an average price of $6.96, for a total value of $104,400.00.

LegalZoom.com Stock Up 0.3%

Shares of LZ opened at $6.45 on Friday. The business has a 50-day simple moving average of $6.15 and a two-hundred day simple moving average of $7.93. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 107.52, a PEG ratio of 1.13 and a beta of 1.33. LegalZoom.com, Inc. has a 52 week low of $5.28 and a 52 week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $206.78 million during the quarter, compared to analysts’ expectations of $202.14 million. LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. On average, equities analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

LegalZoom.com announced that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On LegalZoom.com

A number of hedge funds have recently made changes to their positions in LZ. Brighton Jones LLC bought a new position in shares of LegalZoom.com in the fourth quarter worth about $185,000. Amundi bought a new position in LegalZoom.com during the first quarter valued at approximately $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LegalZoom.com by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock valued at $646,000 after buying an additional 2,161 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in LegalZoom.com by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock valued at $11,309,000 after buying an additional 113,769 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in LegalZoom.com by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company’s stock valued at $2,376,000 after buying an additional 4,607 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group dropped their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings lowered LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Barclays reaffirmed an “underweight” rating and issued a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, LegalZoom.com currently has an average rating of “Hold” and a consensus price target of $9.25.

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.