Advisory Services Network LLC Buys New Shares in LegalZoom.com, Inc. (NASDAQ:LZ)

Advisory Services Network LLC purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 56,265 shares of the company's stock, valued at approximately $423,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company's stock valued at $1,427,000 after acquiring an additional 169,761 shares in the last quarter. Pathway Capital Management LP purchased a new stake in LegalZoom.com in the 4th quarter valued at approximately $2,387,000. JPMorgan Chase & Co. increased its position in LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock worth $3,605,000 after purchasing an additional 71,291 shares during the period. Oak Harvest Investment Services acquired a new position in LegalZoom.com during the 4th quarter worth approximately $751,000. Finally, Citizens Financial Group Inc. RI raised its stake in shares of LegalZoom.com by 11.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock worth $4,096,000 after buying an additional 55,336 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

LZ has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Barclays increased their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, LegalZoom.com presently has a consensus rating of "Hold" and an average price target of $9.06.

LegalZoom.com Trading Up 2.4 %

Shares of LegalZoom.com stock traded up $0.16 during mid-day trading on Tuesday, hitting $6.77. 1,578,894 shares of the stock were exchanged, compared to its average volume of 1,819,416. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 52.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. The company has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $8.17. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $12.55.

LegalZoom.com Company Profile

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.