Atom Investors LP Reduces Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Atom Investors LP decreased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 8.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 631,411 shares of the company’s stock after selling 59,592 shares during the quarter. Atom Investors LP owned 0.37% of LegalZoom.com worth $4,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP lifted its holdings in LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after purchasing an additional 3,919 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of LegalZoom.com during the second quarter valued at $71,000. Creative Planning bought a new stake in shares of LegalZoom.com in the third quarter valued at about $72,000. Finally, Paloma Partners Management Co bought a new position in LegalZoom.com during the 3rd quarter worth about $81,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

NASDAQ LZ opened at $7.93 on Monday. The company has a fifty day moving average of $7.24 and a 200 day moving average of $7.25. The company has a market capitalization of $1.37 billion, a PE ratio of 61.00, a P/E/G ratio of 1.78 and a beta of 1.06. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. LegalZoom.com’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. Research analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

LZ has been the subject of a number of recent research reports. Citigroup boosted 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. William Blair started coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 price target on shares of LegalZoom.com in a report on Friday, November 8th. Barclays increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, LegalZoom.com has an average rating of “Hold” and an average target price of $8.75.

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.