Victory Capital Management Inc. Sells 51,454 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Victory Capital Management Inc. lessened its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,321 shares of the company’s stock after selling 51,454 shares during the quarter. Victory Capital Management Inc.’s holdings in LegalZoom.com were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LZ. Quarry LP boosted its position in shares of LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after buying an additional 3,732 shares during the last quarter. Wexford Capital LP bought a new stake in LegalZoom.com during the 3rd quarter valued at approximately $64,000. Olympiad Research LP bought a new stake in LegalZoom.com during the 4th quarter valued at approximately $78,000. Paloma Partners Management Co bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $81,000. Finally, Clearline Capital LP bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $126,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LZ shares. JPMorgan Chase & Co. lifted their target price on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Citigroup boosted their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Finally, Barclays upped their target price on LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.19.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $9.32 on Friday. The stock has a 50 day moving average price of $9.08 and a 200 day moving average price of $7.95. The stock has a market cap of $1.64 billion, a PE ratio of 71.70, a P/E/G ratio of 1.73 and a beta of 1.09. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $13.56.

LegalZoom.com 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.