Pathway Capital Management LP Purchases New Shares in LegalZoom.com, Inc. (NASDAQ:LZ)

Pathway Capital Management LP purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 317,862 shares of the company’s stock, valued at approximately $2,387,000. LegalZoom.com accounts for 2.4% of Pathway Capital Management LP’s holdings, making the stock its 5th biggest position. Pathway Capital Management LP owned approximately 0.18% of LegalZoom.com at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of LegalZoom.com by 4.5% in the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after purchasing an additional 132,189 shares during the period. Tabor Asset Management LP grew its position in shares of LegalZoom.com by 44.9% in the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after purchasing an additional 472,002 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of LegalZoom.com by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock valued at $7,606,000 after purchasing an additional 32,085 shares during the period. JPMorgan Chase & Co. grew its position in shares of LegalZoom.com by 14.4% in the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after purchasing an additional 71,291 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of LegalZoom.com in the third quarter valued at about $3,112,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

LZ has been the topic of several research reports. Citigroup raised their price target 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 reissued a “market perform” rating on shares of LegalZoom.com in a research note on Thursday. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Barclays raised their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.19.

LegalZoom.com Price Performance

Shares of LZ stock opened at $10.16 on Friday. The firm’s 50-day moving average is $8.53 and its two-hundred day moving average is $7.61. The company has a market capitalization of $1.76 billion, a PE ratio of 78.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74.

About LegalZoom.com

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.