Key Points
- LegalZoom CFO Noel Bertram Watson sold 416,371 shares at an average price of $5.91, worth approximately $2.46 million, reducing his ownership by 21.82%. He also sold an additional 83,629 shares the following day for about $488,000.
- LegalZoom reported quarterly EPS of $0.16, beating estimates by $0.01, while revenue rose 6.6% year over year to $205.29 million, slightly below analyst expectations.
- Investor sentiment remains cautious: analysts’ average rating is “Reduce”, with five Hold and three Sell ratings and an average price target of $7.30, compared with the stock’s recent price near $5.84.
LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) CFO Noel Bertram Watson sold 83,629 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $5.83, for a total value of $487,557.07. Following the completion of the transaction, the chief financial officer owned 1,407,801 shares in the company, valued at $8,207,479.83. This trade represents a 5.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Noel Bertram Watson also recently made the following trade(s):
- On Thursday, August 20th, Noel Bertram Watson sold 416,371 shares of LegalZoom.com stock. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61.
LegalZoom.com Price Performance
LZ opened at $5.84 on Friday. The company has a market capitalization of $1.00 billion, a PE ratio of 64.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. LegalZoom.com, Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $12.40. The business has a 50-day moving average of $6.67 and a 200-day moving average of $6.50.
LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The business had revenue of $205.29 million during the quarter, compared to analysts' expectations of $205.83 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on LZ shares. UBS Group cut their price target on shares of LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. William Blair downgraded LegalZoom.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded LegalZoom.com from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, LegalZoom.com has an average rating of "Reduce" and a consensus price target of $7.30.
Get Our Latest Analysis on LZ
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of LegalZoom.com by 477.3% in the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company's stock worth $41,000 after acquiring an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 4,140 shares during the last quarter. Parallel Advisors LLC boosted its holdings in LegalZoom.com by 8,589.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company's stock valued at $53,000 after purchasing an additional 5,068 shares during the period. Kemnay Advisory Services Inc. bought a new stake in LegalZoom.com in the 4th quarter valued at $74,000. Finally, Parkside Financial Bank & Trust grew its position in LegalZoom.com by 91.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,433 shares of the company's stock worth $74,000 after purchasing an additional 3,550 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.
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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