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

Principal Financial Group Inc. reduced its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 30.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,895 shares of the company’s stock after selling 5,726 shares during the period. Principal Financial Group Inc.’s holdings in LegalZoom.com were worth $82,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP boosted its holdings in LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after purchasing an additional 3,919 shares in the last quarter. Point72 DIFC Ltd bought a new position in LegalZoom.com in the 2nd quarter worth about $71,000. Creative Planning purchased a new stake in LegalZoom.com during the 3rd quarter valued at about $72,000. Finally, nVerses Capital LLC bought a new stake in LegalZoom.com during the 2nd quarter valued at about $114,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $7.94 on Wednesday. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The company has a market capitalization of $1.37 billion, a P/E ratio of 61.08, a P/E/G ratio of 1.75 and a beta of 1.06. The company has a fifty day moving average of $7.14 and a 200 day moving average of $7.29.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. Analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. Citigroup boosted their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Finally, Barclays lifted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.75.

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.