Jennison Associates LLC Invests $687,000 in LegalZoom.com, Inc. (NASDAQ:LZ)

Jennison Associates LLC purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 108,219 shares of the company's stock, valued at approximately $687,000. Jennison Associates LLC owned approximately 0.06% of LegalZoom.com as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in LegalZoom.com by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company's stock worth $225,918,000 after purchasing an additional 1,158,252 shares during the period. Westwood Holdings Group Inc. lifted its holdings in LegalZoom.com by 15.8% in the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company's stock valued at $46,827,000 after acquiring an additional 762,612 shares during the period. Renaissance Technologies LLC grew its stake in shares of LegalZoom.com by 26.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company's stock valued at $20,698,000 after purchasing an additional 521,200 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of LegalZoom.com by 89.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 708,126 shares of the company's stock valued at $9,446,000 after purchasing an additional 334,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of LegalZoom.com by 25.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company's stock worth $10,806,000 after buying an additional 262,335 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LZ has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of LegalZoom.com from a "hold" rating to a "buy" rating and set a $8.00 price target on the stock in a research report on Wednesday, July 31st. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Friday, September 13th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $8.00 price target on shares of LegalZoom.com in a report on Friday, November 8th. Barclays raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, William Blair began coverage on LegalZoom.com in a research report on Monday, September 16th. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.67.

LegalZoom.com Stock Up 0.9 %

NASDAQ LZ traded up $0.07 during trading hours on Friday, reaching $7.83. The company's stock had a trading volume of 879,671 shares, compared to its average volume of 1,332,224. The firm's 50-day moving average price is $7.11 and its 200-day moving average price is $7.31. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $13.74. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 60.23, a PEG ratio of 1.74 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same period in the prior year, the company earned $0.05 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

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.