Washington Harbour Partners LP Purchases New Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Washington Harbour Partners LP acquired a new position in LegalZoom.com, Inc. (NASDAQ:LZ) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 49,600 shares of the company’s stock, valued at approximately $662,000. LegalZoom.com accounts for 1.1% of Washington Harbour Partners LP’s holdings, making the stock its 24th biggest position.

A number of other large investors have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its position in shares of LegalZoom.com by 8.8% during the first quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after buying an additional 1,074 shares during the period. Amalgamated Bank raised its position in shares of LegalZoom.com by 9.6% in the 4th quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock worth $193,000 after acquiring an additional 1,495 shares in the last quarter. Ascent Group LLC raised its position in shares of LegalZoom.com by 27.6% in the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after acquiring an additional 2,950 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of LegalZoom.com by 31.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock valued at $240,000 after purchasing an additional 4,305 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of LegalZoom.com by 22.5% during the first quarter. ProShare Advisors LLC now owns 24,042 shares of the company’s stock valued at $321,000 after purchasing an additional 4,420 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LZ. Citigroup lowered LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday. Bank of America cut shares of LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $13.00 to $6.00 in a report on Wednesday, July 10th. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. downgraded LegalZoom.com from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $9.00 in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average target price of $10.81.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ traded down $0.33 during trading on Thursday, reaching $6.35. 2,268,802 shares of the stock traded hands, compared to its average volume of 1,713,515. The stock has a market cap of $1.20 billion, a P/E ratio of 57.73, a price-to-earnings-growth ratio of 4.68 and a beta of 1.10. The stock has a 50-day moving average of $7.71 and a two-hundred day moving average of $10.23. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $15.60.

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

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.