Rhumbline Advisers Purchases 26,720 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Rhumbline Advisers boosted its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,199 shares of the company's stock after acquiring an additional 26,720 shares during the period. Rhumbline Advisers owned 0.12% of LegalZoom.com worth $1,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of LegalZoom.com by 308.5% during the 3rd quarter. Barclays PLC now owns 224,782 shares of the company's stock valued at $1,427,000 after acquiring an additional 169,761 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of LegalZoom.com during the third quarter worth $1,429,000. JPMorgan Chase & Co. increased its holdings in LegalZoom.com by 14.4% in the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock valued at $3,605,000 after purchasing an additional 71,291 shares during the last quarter. Oak Harvest Investment Services acquired a new position in LegalZoom.com in the fourth quarter valued at about $751,000. Finally, Victory Capital Management Inc. boosted its holdings in LegalZoom.com by 97.2% during the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company's stock worth $824,000 after buying an additional 63,980 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. 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 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, Barclays boosted their target price on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.19.

Remove Ads

LegalZoom.com Trading Down 1.4 %

NASDAQ LZ traded down $0.14 during trading on Friday, reaching $9.77. The company's stock had a trading volume of 2,354,183 shares, compared to its average volume of 1,657,863. The firm has a 50 day moving average price of $8.71 and a 200 day moving average price of $7.73. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 75.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09.

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.