Key Points
- Insider sale: LegalZoom insider Nicole Miller sold 19,199 shares at an average price of $6.58, totaling about $126,329. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- Stock and earnings snapshot: LegalZoom shares were down 3.2% and opened at $6.37, near the lower end of their 52-week range. The company recently reported quarterly EPS of $0.12, missing estimates by $0.01, while revenue came in at $206.78 million, above expectations and up 12.9% year over year.
- Analyst and corporate actions: Wall Street sentiment is mixed, with a consensus Hold rating and an average price target of $9.25. LegalZoom also has a $100 million share repurchase authorization in place, suggesting management sees value in the stock.
LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) CFO Noel Bertram Watson sold 15,000 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.45, for a total value of $96,750.00. Following the completion of the sale, the chief financial officer owned 2,041,847 shares in the company, valued at approximately $13,169,913.15. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Noel Bertram Watson also recently made the following trade(s):
- On Wednesday, February 18th, Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock. The shares were sold at an average price of $6.96, for a total value of $104,400.00.
LegalZoom.com Stock Down 3.2%
Shares of NASDAQ LZ opened at $6.37 on Wednesday. The business's 50 day moving average price is $6.14 and its 200 day moving average price is $7.98. The firm has a market cap of $1.09 billion, a P/E ratio of 106.18, a P/E/G ratio of 1.16 and a beta of 1.33. LegalZoom.com, Inc. has a 52 week low of $5.28 and a 52 week high of $12.40.
LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The firm had revenue of $206.78 million during the quarter, compared to analysts' expectations of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. LegalZoom.com's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. As a group, research analysts expect that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.
LegalZoom.com announced that its board has approved a stock buyback program on Thursday, February 19th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On LegalZoom.com
Several hedge funds have recently bought and sold shares of LZ. Parkside Financial Bank & Trust purchased a new position in shares of LegalZoom.com during the 3rd quarter valued at approximately $40,000. Clearstead Advisors LLC lifted its position in shares of LegalZoom.com by 58.5% during the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company's stock valued at $41,000 after buying an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of LegalZoom.com by 976.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company's stock valued at $41,000 after buying an additional 4,140 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of LegalZoom.com by 11,415.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company's stock valued at $43,000 after buying an additional 7,534 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Barclays restated an "underweight" rating and issued a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research report on Wednesday, March 4th. JPMorgan Chase & Co. lowered their price objective on LegalZoom.com from $14.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Zacks Research upgraded LegalZoom.com from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Weiss Ratings lowered LegalZoom.com from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. Finally, UBS Group lowered their price objective on LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.25.
View Our Latest Stock 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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