Victory Capital Management Inc. Boosts Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Victory Capital Management Inc. raised its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 168.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,795 shares of the company’s stock after buying an additional 41,304 shares during the quarter. Victory Capital Management Inc.’s holdings in LegalZoom.com were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in shares of LegalZoom.com during the second quarter worth about $114,000. Nomura Holdings Inc. purchased a new position in shares of LegalZoom.com during the fourth quarter worth about $120,000. Counterpoint Mutual Funds LLC purchased a new position in shares of LegalZoom.com during the first quarter worth about $135,000. Ameritas Investment Partners Inc. grew its holdings in shares of LegalZoom.com by 8.8% during the first quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock worth $178,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of LegalZoom.com by 27.6% during the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after purchasing an additional 2,950 shares in 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 recent analyst reports. JPMorgan Chase & Co. cut their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. William Blair started coverage on LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group upgraded 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.79.

LegalZoom.com Stock Down 1.2 %

Shares of LegalZoom.com stock opened at $6.62 on Monday. The company has a market cap of $1.25 billion, a PE ratio of 60.18, a P/E/G ratio of 2.03 and a beta of 1.10. The business has a 50 day moving average of $6.40 and a 200 day moving average of $9.08. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74.

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

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.