LegalZoom.com (NASDAQ:LZ) Insider Nicole Miller Sells 43,996 Shares of Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 43,996 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.51, for a total transaction of $242,417.96. Following the completion of the transaction, the insider directly owned 976,932 shares of the company’s stock, valued at approximately $5,382,895.32. This represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.

Nicole Miller also recently made the following trade(s):

• On Tuesday, August 18th, Nicole Miller sold 33,479 shares of LegalZoom.com stock. The stock was sold at an average price of $5.51, for a total transaction of $184,469.29.

LegalZoom.com Stock Up 4.6%

LZ opened at $5.69 on Wednesday. The business’s fifty day simple moving average is $6.68 and its 200 day simple moving average is $6.55. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40. The stock has a market cap of $974.47 million, a PE ratio of 63.22, a P/E/G ratio of 1.06 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $205.29 million during the quarter, compared to analyst estimates of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, equities analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. Citigroup reduced their target price on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, UBS Group decreased their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.30.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LZ. Brighton Jones LLC purchased a new stake in LegalZoom.com during the 4th quarter valued at $185,000. Amundi purchased a new position in shares of LegalZoom.com in the first quarter valued at about $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of LegalZoom.com by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock valued at $646,000 after acquiring an additional 2,161 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of LegalZoom.com by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock valued at $11,309,000 after acquiring an additional 113,769 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of LegalZoom.com by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company’s stock valued at $2,376,000 after acquiring an additional 4,607 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

About LegalZoom.com

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.