JPMorgan Chase & Co. Acquires 71,291 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

JPMorgan Chase & Co. increased its holdings in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,675 shares of the company's stock after acquiring an additional 71,291 shares during the period. JPMorgan Chase & Co. owned about 0.33% of LegalZoom.com worth $3,605,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. raised its holdings in shares of LegalZoom.com by 15.8% during the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company's stock worth $46,827,000 after acquiring an additional 762,612 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of LegalZoom.com by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company's stock worth $20,310,000 after purchasing an additional 132,189 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $20,698,000 after purchasing an additional 521,200 shares in the last quarter. Coastal Bridge Advisors LLC lifted its holdings in shares of LegalZoom.com by 10.2% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company's stock valued at $16,751,000 after buying an additional 184,696 shares during the last quarter. Finally, Tabor Asset Management LP grew its stake in shares of LegalZoom.com by 44.9% in the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company's stock valued at $9,669,000 after buying an additional 472,002 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Trading Up 0.4 %

LZ traded up $0.03 on Friday, hitting $8.20. 960,803 shares of the stock traded hands, compared to its average volume of 1,083,506. The business has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.11. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The firm has a market capitalization of $1.42 billion, a PE ratio of 63.08, a P/E/G ratio of 1.52 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly 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 net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LZ. Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised shares of LegalZoom.com from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $8.00 to $9.00 in a research note on Monday, January 13th. UBS Group assumed coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They set a "neutral" rating and a $9.00 target price on the stock. Citigroup raised their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Barclays upped their price target 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.81.

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.