Alliancebernstein L.P. increased its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 492,890 shares of the company's stock after purchasing an additional 107,910 shares during the quarter. Alliancebernstein L.P. owned approximately 0.29% of LegalZoom.com worth $3,702,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after buying an additional 2,574,700 shares during the period. Franklin Resources Inc. lifted its holdings in shares of LegalZoom.com by 4.5% during the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company's stock valued at $20,310,000 after acquiring an additional 132,189 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of LegalZoom.com by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company's stock valued at $9,258,000 after purchasing an additional 34,914 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of LegalZoom.com by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock worth $8,662,000 after purchasing an additional 585,734 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of LegalZoom.com during the 4th quarter worth about $5,769,000. Institutional investors and hedge funds own 81.99% of the company's stock.
LegalZoom.com Stock Performance
NASDAQ:LZ traded down $0.13 on Friday, hitting $6.94. 2,560,143 shares of the stock were exchanged, compared to its average volume of 1,817,750. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $12.55. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 53.39, a P/E/G ratio of 1.73 and a beta of 1.13. The company's 50-day moving average price is $8.76 and its 200 day moving average price is $8.17.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on LZ. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Barclays boosted their price objective on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research note on Friday, April 11th. Finally, Morgan Stanley reduced their price target on shares of LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.06.
Read Our Latest Report on LegalZoom.com
About LegalZoom.com
(
Free Report)
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.
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