LegalZoom.com, Inc. (NASDAQ:LZ) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 89.7% during the first quarter, Holdings Channel reports. The firm owned 708,126 shares of the company’s stock after buying an additional 334,865 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in LegalZoom.com were worth $9,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LZ. Vanguard Group Inc. increased its position in LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after acquiring an additional 2,777,206 shares during the period. Technology Crossover Management IX Ltd. increased its position in LegalZoom.com by 14.6% in the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock valued at $185,278,000 after acquiring an additional 2,094,240 shares during the period. Westwood Holdings Group Inc. increased its position in LegalZoom.com by 62.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock valued at $64,282,000 after acquiring an additional 1,843,427 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of LegalZoom.com by 3,195.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 943,856 shares of the company’s stock valued at $10,666,000 after purchasing an additional 915,214 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of LegalZoom.com by 64.7% during the 4th quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after purchasing an additional 775,775 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

LZ traded up $0.02 during trading on Tuesday, reaching $6.69. 1,466,625 shares of the stock traded hands, compared to its average volume of 1,703,274. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 4.74 and a beta of 1.10. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $15.68. The stock’s 50-day simple moving average is $7.83 and its two-hundred day simple moving average is $10.31.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $174.21 million during the quarter, compared to analysts’ expectations of $174.87 million. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. Research analysts anticipate that LegalZoom.com, Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their price target for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. Citigroup lowered LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $8.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered LegalZoom.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $9.00 in a research note on Wednesday, July 10th. Barclays lowered LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. Finally, JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.21.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.