Magnetar Financial LLC Buys New Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Magnetar Financial LLC purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,985 shares of the company's stock, valued at approximately $233,000.

Other institutional investors have also bought and sold shares of the company. Kazazian Asset Management LLC purchased a new position in LegalZoom.com during the fourth quarter worth $3,375,000. Cibc World Markets Corp purchased a new position in shares of LegalZoom.com during the 4th quarter worth about $90,000. Madison Investment Advisors LLC bought a new position in LegalZoom.com during the 4th quarter valued at about $1,447,000. Citizens Financial Group Inc. RI raised its position in LegalZoom.com by 11.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock worth $4,096,000 after purchasing an additional 55,336 shares during the period. Finally, Clare Market Investments LLC bought a new stake in LegalZoom.com in the fourth quarter worth about $218,000. Institutional investors own 81.99% of the company's stock.

LegalZoom.com Stock Up 0.2 %

Shares of NASDAQ LZ traded up $0.02 during midday trading on Thursday, reaching $9.19. 1,603,796 shares of the company's stock traded hands, compared to its average volume of 1,695,353. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 70.70, a P/E/G ratio of 1.73 and a beta of 1.09. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $13.56. The stock's 50 day simple moving average is $9.16 and its 200-day simple moving average is $8.02.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LZ. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Morgan Stanley increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Monday, January 13th. Barclays boosted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. UBS Group began coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a "neutral" rating and a $9.00 price target on the stock. Finally, William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $9.19.

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.