Victory Capital Management Inc. Buys 63,980 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Victory Capital Management Inc. grew its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 97.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 129,775 shares of the company’s stock after acquiring an additional 63,980 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of LegalZoom.com worth $824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LZ. Vanguard Group Inc. raised its holdings in shares of LegalZoom.com by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after buying an additional 1,158,252 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of LegalZoom.com by 15.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after buying an additional 762,612 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 buying an additional 521,200 shares in the last quarter. Coastal Bridge Advisors LLC raised its holdings in shares of LegalZoom.com by 10.2% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after buying an additional 184,696 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of LegalZoom.com by 25.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock worth $10,806,000 after buying an additional 262,335 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Performance

Shares of LZ opened at $7.94 on Thursday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 1.77 and a beta of 1.06. The stock has a 50 day moving average of $7.16 and a 200 day moving average of $7.27. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LZ. Citigroup upped their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, July 31st. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, Barclays upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.75.

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.