UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,017 shares of the company’s stock after selling 24,169 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of LegalZoom.com worth $1,848,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new position in LegalZoom.com in the 3rd quarter worth about $508,000. Charles Schwab Investment Management Inc. raised its holdings in LegalZoom.com by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock worth $7,606,000 after buying an additional 32,085 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of LegalZoom.com in the third quarter worth approximately $283,000. Intech Investment Management LLC purchased a new stake in shares of LegalZoom.com during the third quarter valued at approximately $228,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of LegalZoom.com during the third quarter valued at approximately $3,112,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LZ. UBS Group began coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price objective for the company. William Blair assumed coverage on shares of LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, Barclays increased their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and an average target price of $8.79.

LegalZoom.com Price Performance

Shares of LZ stock opened at $8.07 on Monday. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74. The firm’s 50-day moving average is $7.57 and its two-hundred day moving average is $7.20. The company has a market capitalization of $1.39 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly 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 firm had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS 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.