Edgestream Partners L.P. Sells 70,184 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Edgestream Partners L.P. lessened its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 60.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,432 shares of the company’s stock after selling 70,184 shares during the quarter. Edgestream Partners L.P.’s holdings in LegalZoom.com were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LZ. Victory Capital Management Inc. bought a new stake in shares of LegalZoom.com in the fourth quarter worth $191,000. Charles Schwab Investment Management Inc. raised its position in LegalZoom.com by 15.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock worth $11,833,000 after acquiring an additional 138,702 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in LegalZoom.com during the fourth quarter worth $295,000. TD Asset Management Inc raised its position in LegalZoom.com by 46.0% during the fourth quarter. TD Asset Management Inc now owns 97,106 shares of the company’s stock worth $1,097,000 after acquiring an additional 30,600 shares in the last quarter. Finally, Madison Asset Management LLC bought a new stake in LegalZoom.com during the fourth quarter worth $3,582,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on LZ shares. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. William Blair started coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating on the stock. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $8.00 in a report on Wednesday, July 10th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Finally, Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Wednesday, July 31st. Two equities research 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’s stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $9.79.

LegalZoom.com Stock Performance

LZ stock opened at $6.62 on Monday. The company’s 50-day simple moving average is $6.40 and its 200 day simple moving average is $9.08. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The company has a market capitalization of $1.25 billion, a PE ratio of 60.18, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 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 business had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. During the same period in the prior year, the company posted $0.02 earnings per share. LegalZoom.com’s revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that LegalZoom.com, Inc. will post 0.23 EPS 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.