Royal Bank of Canada Has $1.07 Million Stake in LegalZoom.com, Inc. $LZ

Royal Bank of Canada grew its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 1,656.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,505 shares of the company’s stock after acquiring an additional 177,773 shares during the quarter. Royal Bank of Canada owned 0.11% of LegalZoom.com worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in shares of LegalZoom.com by 20.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,408,170 shares of the company’s stock valued at $45,757,000 after purchasing an additional 758,367 shares during the period. Goldman Sachs Group Inc. raised its holdings in LegalZoom.com by 165.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock worth $37,044,000 after buying an additional 2,324,481 shares during the period. Boston Partners raised its holdings in LegalZoom.com by 81.0% during the 4th quarter. Boston Partners now owns 3,623,111 shares of the company’s stock worth $36,054,000 after buying an additional 1,621,125 shares during the period. Franklin Resources Inc. lifted its stake in LegalZoom.com by 2.8% in the third quarter. Franklin Resources Inc. now owns 3,327,296 shares of the company’s stock valued at $34,537,000 after buying an additional 90,599 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in LegalZoom.com by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,112,895 shares of the company’s stock valued at $17,650,000 after buying an additional 91,131 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Noel Bertram Watson sold 416,371 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $5.91, for a total value of $2,460,752.61. Following the completion of the transaction, the chief financial officer owned 1,491,430 shares of the company’s stock, valued at approximately $8,814,351.30. This trade represents a 21.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Miller sold 43,996 shares of LegalZoom.com stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.51, for a total transaction of $242,417.96. Following the completion of the sale, the insider owned 976,932 shares in the company, valued at $5,382,895.32. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 577,475 shares of company stock valued at $3,375,197. 7.40% of the stock is owned by insiders.

Analysts Set New Price Targets

LZ has been the subject of several research analyst reports. Citigroup reduced their price target on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. UBS Group cut their price objective on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, LegalZoom.com has an average rating of “Reduce” and an average target price of $7.30.

LegalZoom.com Stock Down 0.3%

NASDAQ:LZ opened at $5.84 on Friday. The company has a market cap of $1.00 billion, a P/E ratio of 64.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. LegalZoom.com, Inc. has a twelve month low of $5.22 and a twelve month high of $12.40. The business has a 50 day moving average price of $6.67 and a two-hundred day moving average price of $6.50.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $205.29 million for the quarter, compared to the consensus estimate of $205.83 million. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. As a group, analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

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.