Nicole Miller Sells 33,479 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 33,479 shares of LegalZoom.com stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $5.51, for a total value of $184,469.29. Following the sale, the insider owned 943,453 shares of the company’s stock, valued at approximately $5,198,426.03. This trade represents a 3.43% decrease in their position. The sale 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 Monday, August 17th, Nicole Miller sold 43,996 shares of LegalZoom.com stock. The stock was sold at an average price of $5.51, for a total value of $242,417.96.

LegalZoom.com Stock Up 4.8%

Shares of LZ stock traded up $0.26 during trading on Tuesday, hitting $5.70. The company had a trading volume of 3,028,172 shares, compared to its average volume of 3,127,499. The stock’s 50-day moving average is $6.67 and its two-hundred day moving average is $6.57. The stock has a market capitalization of $976.18 million, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 1.06 and a beta of 1.28. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The business had revenue of $205.29 million during the quarter, compared to analyst estimates of $205.83 million. During the same period in the previous year, the business posted $0.15 earnings per share. LegalZoom.com’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

A number of large investors have recently added to or reduced their stakes in LZ. Jupiter Asset Management Ltd. boosted its holdings in shares of LegalZoom.com by 255.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 231,773 shares of the company’s stock worth $2,302,000 after purchasing an additional 166,574 shares during the period. UBS Group AG grew its stake in shares of LegalZoom.com by 87.9% in the fourth quarter. UBS Group AG now owns 613,537 shares of the company’s stock worth $6,092,000 after purchasing an additional 287,063 shares during the last quarter. Punch & Associates Investment Management Inc. increased its holdings in LegalZoom.com by 23.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock valued at $26,087,000 after purchasing an additional 500,787 shares during the period. Hawk Ridge Capital Management LP increased its holdings in LegalZoom.com by 48.7% during the 1st quarter. Hawk Ridge Capital Management LP now owns 735,929 shares of the company’s stock valued at $4,173,000 after purchasing an additional 241,100 shares during the period. Finally, Empowered Funds LLC bought a new position in LegalZoom.com during the 1st quarter valued at approximately $2,918,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group cut their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Citigroup lowered their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Finally, William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $7.30.

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.