SEB Asset Management AB Takes Position in LegalZoom.com, Inc. $LZ

SEB Asset Management AB purchased a new position in LegalZoom.com, Inc. (NASDAQ:LZ) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 331,668 shares of the company’s stock, valued at approximately $1,881,000.

A number of other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC raised its holdings in LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock valued at $51,000 after buying an additional 1,403 shares during the last quarter. Prelude Capital Management LLC increased its position in shares of LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after acquiring an additional 1,470 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of LegalZoom.com by 12.3% during the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock valued at $135,000 after acquiring an additional 1,489 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in LegalZoom.com by 2.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after acquiring an additional 1,705 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

Shares of LZ stock opened at $7.05 on Friday. LegalZoom.com, Inc. has a 1 year low of $5.22 and a 1 year high of $12.40. The firm has a fifty day moving average price of $6.47 and a 200-day moving average price of $6.88. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 117.52, a PEG ratio of 1.25 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 (EPS) 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 company had revenue of $206.78 million for the quarter, compared to the consensus estimate of $202.14 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

LZ has been the topic of several recent analyst reports. Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup lowered their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. UBS Group reduced their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, LegalZoom.com has an average rating of “Hold” and an average target price of $8.25.

Insider Activity

In related news, CEO Jeffrey M. Stibel acquired 125,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $6.15 per share, with a total value of $768,750.00. Following the transaction, the chief executive officer directly owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Miller sold 19,199 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the transaction, the insider owned 1,119,222 shares of the company’s stock, valued at approximately $7,364,480.76. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders own 7.40% of the company’s stock.

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.