PNC Financial Services Group Inc. Sells 2,696 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

PNC Financial Services Group Inc. lowered its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,890 shares of the company’s stock after selling 2,696 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LegalZoom.com were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LZ. Victory Capital Management Inc. raised its stake in LegalZoom.com by 97.2% during the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock valued at $824,000 after purchasing an additional 63,980 shares during the period. Jennison Associates LLC bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $687,000. Intech Investment Management LLC bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $228,000. Landscape Capital Management L.L.C. bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $283,000. Finally, Charles Schwab Investment Management Inc. increased its stake in LegalZoom.com by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock worth $7,606,000 after acquiring an additional 32,085 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Down 1.1 %

LZ opened at $9.32 on Friday. The business has a fifty day moving average of $9.08 and a 200 day moving average of $7.96. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $13.56. The stock has a market cap of $1.64 billion, a P/E ratio of 71.70, a PEG ratio of 1.73 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group assumed coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. Barclays lifted their price objective 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. Finally, Citigroup lifted their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.