Geode Capital Management LLC Trims Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Geode Capital Management LLC lessened its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,755,424 shares of the company's stock after selling 149,442 shares during the quarter. Geode Capital Management LLC owned approximately 1.59% of LegalZoom.com worth $20,697,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Aigen Investment Management LP acquired a new stake in LegalZoom.com in the 4th quarter valued at $76,000. Olympiad Research LP purchased a new position in LegalZoom.com during the 4th quarter worth $78,000. Sei Investments Co. purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $83,000. Cibc World Markets Corp purchased a new stake in shares of LegalZoom.com during the 4th quarter valued at approximately $90,000. Finally, Lexington Partners L.P. purchased a new stake in LegalZoom.com in the 4th quarter worth approximately $103,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

LZ has been the topic of several research analyst reports. Barclays upped their price objective 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. JPMorgan Chase & Co. lifted their target price 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 restated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, LegalZoom.com currently has a consensus rating of "Hold" and an average target price of $9.06.

LegalZoom.com Stock Performance

Shares of LZ traded up $0.14 during trading hours on Thursday, hitting $7.01. 119,148 shares of the stock were exchanged, compared to its average volume of 1,815,873. The stock's 50-day moving average price is $8.62 and its two-hundred day moving average price is $8.16. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $12.55. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 53.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

About LegalZoom.com

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.