Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) PT at $7.30

LegalZoom.com, Inc. (NASDAQ:LZ) has been given an average recommendation of “Reduce” by the eight research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.30.

Several equities research analysts recently weighed in on LZ shares. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. restated 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. William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Finally, Citigroup cut their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd.

Insider Activity

In other news, CFO Noel Watson sold 83,629 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 1,407,801 shares in the company, valued at approximately $8,207,479.83. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Miller sold 33,479 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $5.51, for a total value of $184,469.29. Following the completion of the sale, the insider owned 943,453 shares in the company, valued at approximately $5,198,426.03. This represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 577,475 shares of company stock worth $3,375,197. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in LegalZoom.com in the second quarter worth approximately $47,000. Squarepoint Ops LLC increased its position in shares of LegalZoom.com by 289.3% during the 2nd quarter. Squarepoint Ops LLC now owns 269,974 shares of the company’s stock valued at $1,655,000 after purchasing an additional 200,618 shares during the period. Allworth Financial LP increased its position in shares of LegalZoom.com by 255.1% during the 2nd quarter. Allworth Financial LP now owns 5,014 shares of the company’s stock valued at $31,000 after purchasing an additional 3,602 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of LegalZoom.com in the 2nd quarter worth $268,000. Finally, Headlands Technologies LLC acquired a new stake in shares of LegalZoom.com in the second quarter valued at $67,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of LZ opened at $5.91 on Wednesday. LegalZoom.com has a one year low of $5.22 and a one year high of $12.40. The stock has a 50-day moving average price of $6.59 and a 200 day moving average price of $6.35. The company has a market capitalization of $1.01 billion, a P/E ratio of 65.67, a P/E/G ratio of 1.14 and a beta of 1.26.

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, topping the consensus estimate 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 return on equity of 15.83% and a net margin of 2.13%.LegalZoom.com’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities research analysts forecast that LegalZoom.com will post 0.32 earnings per share for the current fiscal year.

LegalZoom.com Company Profile

LegalZoom.com, Inc is an online platform that provides legal, compliance and business-related services to individuals, families and small businesses. The company helps customers complete common legal and administrative tasks through digital tools, guided document services and access to independent attorneys and other professionals.

Its business services include forming limited liability companies and corporations, obtaining registered-agent services, filing annual reports, managing business licenses and addressing tax-related requirements.