Advisory Services Network LLC Takes $423,000 Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Advisory Services Network LLC bought a new position in LegalZoom.com, Inc. (NASDAQ:LZ) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 56,265 shares of the company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LZ. Aigen Investment Management LP bought a new position in LegalZoom.com in the 4th quarter worth $76,000. Olympiad Research LP purchased a new position in shares of LegalZoom.com in the fourth quarter valued at about $78,000. Sei Investments Co. bought a new position in shares of LegalZoom.com in the fourth quarter worth about $83,000. Cibc World Markets Corp purchased a new stake in shares of LegalZoom.com during the fourth quarter worth about $90,000. Finally, Lexington Partners L.P. bought a new stake in LegalZoom.com during the 4th quarter valued at approximately $103,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of LegalZoom.com from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday. William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted 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. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, April 11th. Finally, Barclays boosted their target price on LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.06.

LegalZoom.com Stock Down 0.3 %

NASDAQ LZ opened at $7.07 on Thursday. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $12.55. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 54.39, a PEG ratio of 1.73 and a beta of 1.13. The company has a fifty day moving average of $8.86 and a two-hundred day moving average of $8.15.

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.