38,357 Shares in LegalZoom.com, Inc. (NASDAQ:LZ) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 38,357 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in shares of LegalZoom.com by 26.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after purchasing an additional 521,200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in LegalZoom.com by 25.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock valued at $10,806,000 after acquiring an additional 262,335 shares in the last quarter. American Century Companies Inc. lifted its stake in LegalZoom.com by 24.7% in the second quarter. American Century Companies Inc. now owns 228,273 shares of the company’s stock valued at $1,915,000 after acquiring an additional 45,202 shares during the last quarter. Quest Partners LLC grew its position in LegalZoom.com by 43.8% in the second quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock worth $184,000 after acquiring an additional 6,682 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of LegalZoom.com by 168.6% during the 2nd quarter. Victory Capital Management Inc. now owns 65,795 shares of the company’s stock worth $552,000 after purchasing an additional 41,304 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

LZ has been the subject of several analyst reports. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, July 31st. Finally, JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.79.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $6.62 on Monday. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.74. The stock has a market cap of $1.25 billion, a PE ratio of 60.18, a PEG ratio of 2.03 and a beta of 1.10. The firm has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $9.08.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that LegalZoom.com, Inc. will post 0.23 earnings per share for the current fiscal year.

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.