LegalZoom.com, Inc. (NASDAQ:LZ) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 26.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,466,933 shares of the company’s stock after buying an additional 521,200 shares during the quarter. Renaissance Technologies LLC owned 1.31% of LegalZoom.com worth $20,698,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of LegalZoom.com in the 2nd quarter valued at $114,000. Nomura Holdings Inc. acquired a new stake in shares of LegalZoom.com in the 4th quarter valued at $120,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of LegalZoom.com in the 1st quarter valued at $135,000. Ameritas Investment Partners Inc. raised its holdings in shares of LegalZoom.com by 8.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Ascent Group LLC raised its holdings in shares of LegalZoom.com by 27.6% in the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after purchasing an additional 2,950 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LZ. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their target price on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating and dropped their target price for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.79.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $6.62 on Friday. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $13.74. The company has a market capitalization of $1.25 billion, a P/E ratio of 60.18, a PEG ratio of 2.03 and a beta of 1.10. The company’s fifty day moving average is $6.39 and its two-hundred day moving average is $9.15.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The company had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. During the same period last year, the firm posted $0.02 EPS. LegalZoom.com’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts expect that LegalZoom.com, Inc. will post 0.23 earnings per share for the current year.

LegalZoom.com 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.