LegalZoom.com, Inc. (NASDAQ:LZ) Sees Significant Increase in Short Interest

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 5,380,000 shares, a growth of 39.4% from the February 28th total of 3,860,000 shares. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is currently 2.7 days. Currently, 4.7% of the company's shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. UBS Group assumed coverage on LegalZoom.com in a report on Friday, December 6th. They issued a "neutral" rating and a $9.00 price objective for the company. William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.19.

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LegalZoom.com Trading Down 6.8 %

Shares of NASDAQ:LZ traded down $0.60 during trading on Thursday, reaching $8.27. The stock had a trading volume of 489,517 shares, compared to its average volume of 1,735,560. The firm's 50-day simple moving average is $9.22 and its 200 day simple moving average is $8.10. LegalZoom.com has a one year low of $5.33 and a one year high of $13.50. The company has a market capitalization of $1.46 billion, a P/E ratio of 63.62, a PEG ratio of 1.73 and a beta of 1.09.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of LegalZoom.com by 14.5% during the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after acquiring an additional 2,574,700 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in LegalZoom.com by 297.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock worth $8,799,000 after purchasing an additional 877,125 shares in the last quarter. Norges Bank purchased a new stake in LegalZoom.com during the 4th quarter worth approximately $5,769,000. Ararat Capital Management LP increased its stake in LegalZoom.com by 26.6% during the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock valued at $24,396,000 after purchasing an additional 682,678 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 worth $8,662,000 after buying an additional 585,734 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.