Madison Investment Advisors LLC Makes New $1.45 Million Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Madison Investment Advisors LLC acquired a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 192,636 shares of the company's stock, valued at approximately $1,447,000. Madison Investment Advisors LLC owned approximately 0.11% of LegalZoom.com as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Citizens Financial Group Inc. RI grew its position in LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock valued at $4,096,000 after purchasing an additional 55,336 shares in the last quarter. Clare Market Investments LLC acquired a new position in shares of LegalZoom.com during the 4th quarter worth about $218,000. AlphaQuest LLC grew its holdings in shares of LegalZoom.com by 199,195.3% in the 4th quarter. AlphaQuest LLC now owns 85,697 shares of the company's stock valued at $644,000 after acquiring an additional 85,654 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at about $76,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in LegalZoom.com by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company's stock worth $9,258,000 after acquiring an additional 34,914 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LZ shares. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. UBS Group started coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a "neutral" rating and a $9.00 target price for the company. Citigroup upped their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Barclays boosted 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 note on Thursday, February 27th. Finally, Morgan Stanley raised 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.19.

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LegalZoom.com Stock Down 2.0 %

Shares of NASDAQ LZ traded down $0.19 during mid-day trading on Wednesday, reaching $9.17. 1,427,250 shares of the company were exchanged, compared to its average volume of 1,693,574. The stock has a market capitalization of $1.61 billion, a P/E ratio of 70.54, a P/E/G ratio of 1.73 and a beta of 1.09. The company's 50-day simple moving average is $9.13 and its 200-day simple moving average is $8.01. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.56.

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.