LegalZoom.com, Inc. (NASDAQ:LZ) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 567,675 shares of the company’s stock after acquiring an additional 71,291 shares during the period. JPMorgan Chase & Co. owned 0.33% of LegalZoom.com worth $3,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZ. Franklin Resources Inc. grew its stake in LegalZoom.com by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock worth $20,310,000 after acquiring an additional 132,189 shares during the period. Barclays PLC grew its position in shares of LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock valued at $1,427,000 after purchasing an additional 169,761 shares during the period. Y Intercept Hong Kong Ltd increased its stake in LegalZoom.com by 37.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock valued at $1,081,000 after purchasing an additional 45,941 shares during the last quarter. XTX Topco Ltd purchased a new position in LegalZoom.com during the third quarter worth about $143,000. Finally, Wexford Capital LP acquired a new stake in LegalZoom.com in the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

LegalZoom.com stock opened at $8.20 on Friday. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.74. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 63.08, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The firm’s fifty day moving average price is $7.92 and its 200 day moving average price is $7.11.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $167.66 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LZ has been the topic of several recent analyst reports. 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 report on Monday, November 11th. Citigroup upped their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. upgraded LegalZoom.com from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $9.00 in a report on Monday, January 13th. UBS Group began coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.81.

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.