Jacobs Levy Equity Management Inc. Decreases Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Jacobs Levy Equity Management Inc. reduced its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,549,093 shares of the company's stock after selling 129,375 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.90% of LegalZoom.com worth $9,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LZ. Westwood Holdings Group Inc. increased its stake 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 purchasing an additional 762,612 shares during the period. Renaissance Technologies LLC increased its stake in LegalZoom.com by 26.8% in the second 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. Citizens Financial Group Inc. RI acquired a new position in LegalZoom.com in the third quarter valued at $3,112,000. Dimensional Fund Advisors LP increased its stake in LegalZoom.com by 25.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company's stock valued at $10,806,000 after purchasing an additional 262,335 shares during the period. Finally, Mainstream Capital Management LLC acquired a new position in LegalZoom.com in the third quarter valued at $1,429,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. William Blair assumed coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a "market perform" rating on the stock. UBS Group initiated coverage on shares of LegalZoom.com in a report on Friday. They issued a "neutral" rating and a $9.00 target price on the stock. Citigroup boosted their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LegalZoom.com currently has a consensus rating of "Hold" and a consensus target price of $8.79.

LegalZoom.com Price Performance

LZ stock traded up $0.15 on Friday, hitting $8.20. 787,062 shares of the company were exchanged, compared to its average volume of 1,556,344. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.74. The business's fifty day moving average is $7.35 and its two-hundred day moving average is $7.23. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 61.92, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

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

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.