LegalZoom.com (NASDAQ:LZ) CFO Noel Bertram Watson Sells 83,629 Shares

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 83,629 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $5.83, for a total transaction of $487,557.07. Following the completion of the sale, the chief financial officer directly owned 1,407,801 shares of the company’s stock, valued at $8,207,479.83. The trade was a 5.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, August 20th, Noel Bertram Watson sold 416,371 shares of LegalZoom.com stock. The stock was sold at an average price of $5.91, for a total transaction of $2,460,752.61.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $5.84 on Friday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 64.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. LegalZoom.com, Inc. has a one year low of $5.22 and a one year high of $12.40. The stock has a 50-day simple moving average of $6.67 and a 200 day simple moving average of $6.50.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The company had revenue of $205.29 million for the quarter, compared to the consensus estimate of $205.83 million. During the same quarter last year, the business posted $0.15 EPS. LegalZoom.com’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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

About LegalZoom.com

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.