Principal Financial Group Inc. Trims Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Principal Financial Group Inc. decreased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,913 shares of the company’s stock after selling 1,982 shares during the period. Principal Financial Group Inc.’s holdings in LegalZoom.com were worth $82,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new stake in LegalZoom.com during the third quarter worth about $3,112,000. Tabor Asset Management LP lifted its stake in LegalZoom.com by 44.9% during the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after purchasing an additional 472,002 shares during the last quarter. Barclays PLC lifted its stake in LegalZoom.com by 308.5% during the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock worth $1,427,000 after purchasing an additional 169,761 shares during the last quarter. Edgestream Partners L.P. lifted its stake in LegalZoom.com by 313.2% during the third quarter. Edgestream Partners L.P. now owns 191,857 shares of the company’s stock worth $1,218,000 after purchasing an additional 145,425 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of LegalZoom.com by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after acquiring an additional 132,189 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

LZ stock opened at $9.77 on Friday. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The business’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $7.76. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 75.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LZ shares. Citigroup boosted their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. UBS Group assumed coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Barclays boosted their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.19.

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.