Punch & Associates Investment Management Inc. Has $17.47 Million Stake in LegalZoom.com, Inc. $LZ

Punch & Associates Investment Management Inc. boosted its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 6.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,850,501 shares of the company’s stock after acquiring an additional 161,231 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in LegalZoom.com were worth $17,474,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LZ. Osaic Holdings Inc. raised its position in shares of LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after acquiring an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of LegalZoom.com by 976.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after purchasing an additional 4,140 shares during the period. PNC Financial Services Group Inc. increased its holdings in LegalZoom.com by 11,415.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after purchasing an additional 7,534 shares during the last quarter. Parallel Advisors LLC lifted its stake in LegalZoom.com by 8,589.8% in the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after buying an additional 5,068 shares during the period. Finally, Cetera Investment Advisers bought a new position in LegalZoom.com during the first quarter worth about $58,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LZ shares. Wall Street Zen lowered LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group cut their price target 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. Weiss Ratings reissued a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. William Blair cut shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 target price (down from $8.00) on shares of LegalZoom.com in a research note 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $7.30.

LegalZoom.com Stock Performance

Shares of LZ opened at $5.90 on Thursday. The stock has a 50 day simple moving average of $6.68 and a 200 day simple moving average of $6.44. LegalZoom.com, Inc. has a 52-week low of $5.22 and a 52-week high of $12.40. The firm has a market capitalization of $1.01 billion, a PE ratio of 65.56, a P/E/G ratio of 1.10 and a beta of 1.28.

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

Insider Transactions at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 416,371 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61. Following the sale, the chief financial officer directly owned 1,491,430 shares in the company, valued at $8,814,351.30. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicole Miller sold 43,996 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.51, for a total value of $242,417.96. Following the transaction, the insider directly owned 976,932 shares of the company’s stock, valued at $5,382,895.32. This represents 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 quarter, insiders have sold 577,475 shares of company stock valued at $3,375,197. Corporate insiders own 7.40% of the company’s stock.

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.