Charles Schwab Investment Management Inc. Purchases 34,914 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Charles Schwab Investment Management Inc. increased its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,232,747 shares of the company's stock after purchasing an additional 34,914 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.71% of LegalZoom.com worth $9,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LZ. Victory Capital Management Inc. boosted its stake in LegalZoom.com by 97.2% in the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company's stock valued at $824,000 after buying an additional 63,980 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of LegalZoom.com during the 3rd quarter valued at approximately $687,000. Intech Investment Management LLC acquired a new position in LegalZoom.com during the 3rd quarter worth approximately $228,000. Landscape Capital Management L.L.C. acquired a new position in LegalZoom.com during the 3rd quarter worth approximately $283,000. Finally, Quantbot Technologies LP bought a new position in LegalZoom.com in the 3rd quarter valued at approximately $508,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LZ shares. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Monday, January 13th. UBS Group assumed coverage on LegalZoom.com in a report on Friday, December 6th. They issued a "neutral" rating and a $9.00 price objective for the company. Citigroup lifted their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, Barclays increased their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $9.19.

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LegalZoom.com Trading Down 2.0 %

NASDAQ LZ traded down $0.19 during trading hours on Wednesday, hitting $9.17. 1,427,250 shares of the company's stock were exchanged, compared to its average volume of 1,693,574. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 70.54, a PEG ratio of 1.73 and a beta of 1.09. The stock has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $8.01. LegalZoom.com, Inc. has a 1-year low of $5.33 and a 1-year high of $13.56.

LegalZoom.com 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.