Cornercap Investment Counsel Inc. Takes $541,000 Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Cornercap Investment Counsel Inc. bought a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,095 shares of the company's stock, valued at approximately $541,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in LegalZoom.com during the fourth quarter worth $5,769,000. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 585,734 shares during the last quarter. Lexington Partners L.P. bought a new stake in shares of LegalZoom.com in the 4th quarter worth $103,000. Vanguard Group Inc. raised its holdings in shares of LegalZoom.com by 14.5% in the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock valued at $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of LegalZoom.com in the fourth quarter valued at about $161,000. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Trading Down 6.8 %

Shares of NASDAQ LZ traded down $0.60 during midday trading on Thursday, hitting $8.27. The company's stock had a trading volume of 489,517 shares, compared to its average volume of 1,735,560. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 63.62, a P/E/G ratio of 1.73 and a beta of 1.09. The stock has a fifty day moving average price of $9.22 and a 200 day moving average price of $8.10. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $13.50.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Barclays lifted their price target on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. UBS Group started coverage on LegalZoom.com in a research report on Friday, December 6th. They issued a "neutral" rating and a $9.00 price objective on the stock. Finally, JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $9.19.

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.