Norges Bank Makes New Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Norges Bank bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 768,219 shares of the company's stock, valued at approximately $5,769,000. Norges Bank owned 0.44% of LegalZoom.com as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after buying an additional 2,574,700 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of LegalZoom.com by 103.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock valued at $8,662,000 after acquiring an additional 585,734 shares in the last quarter. Kazazian Asset Management LLC acquired a new position in LegalZoom.com during the 4th quarter worth $3,375,000. Pathway Capital Management LP purchased a new stake in LegalZoom.com during the 4th quarter worth about $2,387,000. Finally, Madison Investment Advisors LLC acquired a new stake in LegalZoom.com in the 4th quarter valued at about $1,447,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Monday, January 13th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.19.

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LegalZoom.com Stock Up 1.5 %

Shares of LZ traded up $0.10 on Tuesday, hitting $7.19. 264,786 shares of the stock traded hands, compared to its average volume of 1,788,243. The firm has a market capitalization of $1.27 billion, a P/E ratio of 55.35, a P/E/G ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $12.76. The stock's 50 day moving average is $8.94 and its two-hundred day moving average is $8.16.

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.