Geode Capital Management LLC Trims Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Geode Capital Management LLC lessened its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,904,866 shares of the company’s stock after selling 139,238 shares during the quarter. Geode Capital Management LLC owned 1.68% of LegalZoom.com worth $18,449,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of LegalZoom.com during the second quarter worth $114,000. Rhumbline Advisers lifted its stake in LegalZoom.com by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 188,693 shares of the company’s stock worth $1,583,000 after acquiring an additional 17,697 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in LegalZoom.com by 168.6% during the 2nd quarter. Victory Capital Management Inc. now owns 65,795 shares of the company’s stock valued at $552,000 after acquiring an additional 41,304 shares during the period. Quest Partners LLC grew its position in LegalZoom.com by 43.8% in the 2nd quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock valued at $184,000 after acquiring an additional 6,682 shares in the last quarter. Finally, American Century Companies Inc. grew its position in LegalZoom.com by 24.7% in the 2nd 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 in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LZ shares. Citigroup lifted their price objective on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group started coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target for the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. William Blair started coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. Finally, JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Two 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, the stock currently has an average rating of “Hold” and a consensus target price of $8.79.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $7.82 on Friday. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $13.74. The company has a market cap of $1.35 billion, a P/E ratio of 60.16, a PEG ratio of 1.81 and a beta of 1.10. The firm has a fifty day moving average of $7.80 and a two-hundred day moving average of $7.16.

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 the consensus estimate of $0.15 by $0.02. The company had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.25 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.