Charles Schwab Investment Management Inc. Buys 34,914 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Charles Schwab Investment Management Inc. boosted its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,747 shares of the company’s stock after acquiring an additional 34,914 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.71% of LegalZoom.com worth $9,258,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LZ. Victory Capital Management Inc. lifted its position in LegalZoom.com by 97.2% in the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock valued at $824,000 after acquiring an additional 63,980 shares in the last quarter. Jennison Associates LLC bought a new stake in LegalZoom.com during the 3rd quarter worth about $687,000. Intech Investment Management LLC bought a new stake in LegalZoom.com during the 3rd quarter worth about $228,000. Landscape Capital Management L.L.C. bought a new stake in LegalZoom.com during the 3rd quarter worth about $283,000. Finally, Quantbot Technologies LP bought a new stake in LegalZoom.com during the 3rd quarter worth about $508,000. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. 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. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. William Blair restated a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Finally, Citigroup boosted their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.19.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.32 on Friday. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.56. The firm has a market cap of $1.64 billion, a P/E ratio of 71.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The firm’s 50-day simple moving average is $9.08 and its 200 day simple moving average is $7.96.

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.