Nicole Miller Sells 19,199 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 19,199 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the transaction, the insider directly owned 1,119,222 shares in the company, valued at approximately $7,364,480.76. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

Nicole Miller also recently made the following trade(s):

• On Thursday, February 26th, Nicole Miller sold 23,325 shares of LegalZoom.com stock. The shares were sold at an average price of $6.63, for a total value of $154,644.75.

LegalZoom.com Trading Up 0.9%

Shares of NASDAQ:LZ opened at $6.43 on Thursday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 107.18, a PEG ratio of 1.12 and a beta of 1.33. LegalZoom.com, Inc. has a 12 month low of $5.28 and a 12 month high of $12.40. The firm’s 50-day moving average is $6.14 and its 200 day moving average is $7.96.

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

LegalZoom.com declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 19th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On LegalZoom.com

A number of hedge funds have recently added to or reduced their stakes in LZ. Brighton Jones LLC bought a new position in LegalZoom.com in the 4th quarter worth about $185,000. Amundi bought a new position in shares of LegalZoom.com during the 1st quarter worth $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of LegalZoom.com by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock worth $646,000 after buying an additional 2,161 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of LegalZoom.com by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock worth $11,309,000 after buying an additional 113,769 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of LegalZoom.com by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company’s stock worth $2,376,000 after buying an additional 4,607 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LZ. UBS Group cut their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays reaffirmed an “underweight” rating and issued a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research report on Wednesday, March 4th. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their price objective 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, Weiss Ratings downgraded LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.