Arrowstreet Capital Limited Partnership Purchases 495,959 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 2,178.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 518,728 shares of the company's stock after purchasing an additional 495,959 shares during the period. Arrowstreet Capital Limited Partnership owned 0.30% of LegalZoom.com worth $3,896,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LZ. Charles Schwab Investment Management Inc. increased its stake in LegalZoom.com by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company's stock valued at $7,606,000 after purchasing an additional 32,085 shares in the last quarter. Walleye Capital LLC increased its position in LegalZoom.com by 450.2% in the 3rd quarter. Walleye Capital LLC now owns 24,246 shares of the company's stock valued at $154,000 after buying an additional 19,839 shares in the last quarter. Quarry LP raised its stake in LegalZoom.com by 83.4% during the 3rd quarter. Quarry LP now owns 8,206 shares of the company's stock worth $52,000 after buying an additional 3,732 shares during the period. XTX Topco Ltd bought a new position in LegalZoom.com in the third quarter worth approximately $143,000. Finally, Y Intercept Hong Kong Ltd grew its stake in LegalZoom.com by 37.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company's stock valued at $1,081,000 after acquiring an additional 45,941 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

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Analyst Ratings Changes

LZ has been the subject of several research reports. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research report on Friday. Barclays boosted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Morgan Stanley raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Monday, January 13th. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.19.

LegalZoom.com Price Performance

Shares of NASDAQ LZ traded up $0.02 during mid-day trading on Monday, reaching $7.15. 159,904 shares of the company's stock were exchanged, compared to its average volume of 2,111,272. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $12.76. The firm has a 50-day moving average price of $8.98 and a two-hundred day moving average price of $8.16. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 55.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

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.