Key Points
- Insider sale: LegalZoom insider Nicole Miller sold 23,325 shares at an average price of $6.63 for proceeds of $154,644.75, cutting her stake to 813,033 shares (a 2.79% decrease).
- Earnings and buyback: LegalZoom reported Q results with EPS of $0.17 (missed by $0.01) and revenue of $190.27M (up 17.7% YoY), and its Board authorized a $100 million share buyback (about 8.1% of shares).
- Market and analyst context: The stock trades near $7.03 with a $1.22B market cap and a 52-week range of $6.14–$12.40, while analysts have an average "Hold" rating and a $10.42 consensus price target.
LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) insider Nicole Miller sold 23,325 shares of LegalZoom.com stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $6.63, for a total transaction of $154,644.75. Following the completion of the sale, the insider owned 813,033 shares in the company, valued at approximately $5,390,408.79. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
LegalZoom.com Trading Up 0.3%
NASDAQ LZ opened at $7.03 on Friday. The company has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $9.67. LegalZoom.com, Inc. has a 52 week low of $6.14 and a 52 week high of $12.40. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 87.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.22.
LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The business had revenue of $190.27 million for the quarter, compared to the consensus estimate of $184.85 million. During the same period last year, the firm posted $0.19 EPS. The business's quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.
LegalZoom.com declared that its Board of Directors has initiated a share buyback program on Thursday, February 19th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.
Institutional Trading of LegalZoom.com
Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of LegalZoom.com by 165.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company's stock valued at $37,044,000 after buying an additional 2,324,481 shares in the last quarter. Boston Partners acquired a new position in shares of LegalZoom.com in the 3rd quarter worth $20,686,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of LegalZoom.com during the third quarter worth $18,106,000. Qube Research & Technologies Ltd lifted its holdings in shares of LegalZoom.com by 180.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company's stock valued at $16,014,000 after purchasing an additional 1,156,462 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of LegalZoom.com during the fourth quarter valued at $10,526,000. 81.99% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of LegalZoom.com from $12.00 to $10.50 and set a "neutral" rating on the stock in a research note on Friday, November 21st. Barclays upped their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of LegalZoom.com from $14.00 to $11.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Weiss Ratings reissued a "hold (c)" rating on shares of LegalZoom.com in a report on Monday, December 29th. Finally, Wall Street Zen downgraded LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.42.
Read Our Latest Analysis on LegalZoom.com
About LegalZoom.com
(
Get Free Report)
LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.
Founded in 2001 by entrepreneurs Brian Lee, Brian P.
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