OP Asset Management Ltd Takes Position in LegalZoom.com, Inc. $LZ

OP Asset Management Ltd bought a new position in LegalZoom.com, Inc. (NASDAQ:LZ) in the 1st quarter, Holdings Channel.com reports. The fund bought 118,159 shares of the company’s stock, valued at approximately $670,000.

A number of other institutional investors have also bought and sold shares of LZ. Goldman Sachs Group Inc. raised its holdings in LegalZoom.com by 165.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock valued at $37,044,000 after acquiring an additional 2,324,481 shares during the period. Boston Partners purchased a new position in shares of LegalZoom.com in the third quarter valued at about $20,686,000. Qube Research & Technologies Ltd boosted its stake in shares of LegalZoom.com by 180.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after acquiring an additional 1,156,462 shares during the period. Norges Bank bought a new position in shares of LegalZoom.com in the fourth quarter worth about $10,526,000. Finally, Lazard Asset Management LLC boosted its stake in shares of LegalZoom.com by 507.3% in the second quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock worth $9,842,000 after acquiring an additional 922,829 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 15,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $6.45, for a total value of $96,750.00. Following the sale, the chief financial officer owned 2,041,847 shares in the company, valued at approximately $13,169,913.15. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeffrey M. Stibel purchased 125,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $6.15 per share, for a total transaction of $768,750.00. Following the purchase, the chief executive officer owned 2,955,609 shares of the company’s stock, valued at $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.90% of the stock is currently owned by insiders.

LegalZoom.com Trading Up 0.2%

Shares of LZ stock opened at $6.12 on Wednesday. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40. The stock’s 50-day moving average price is $6.13 and its 200-day moving average price is $7.21. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 102.10, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The firm had revenue of $206.78 million for the quarter, compared to analysts’ expectations of $202.14 million. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on LZ. Barclays reissued an “underweight” rating and set a $6.00 target price (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. UBS Group dropped their price target on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Citigroup cut their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.25.

LegalZoom.com Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.