Harbor Capital Advisors Inc. Sells 588,419 Shares of LegalZoom.com, Inc. $LZ

Harbor Capital Advisors Inc. trimmed its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 63.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 339,764 shares of the company’s stock after selling 588,419 shares during the period. Harbor Capital Advisors Inc.’s holdings in LegalZoom.com were worth $3,527,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Jump Financial LLC boosted its position in shares of LegalZoom.com by 270.7% in the first quarter. Jump Financial LLC now owns 126,118 shares of the company’s stock worth $1,086,000 after purchasing an additional 92,096 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in LegalZoom.com in the second quarter worth $3,340,000. Russell Investments Group Ltd. raised its holdings in shares of LegalZoom.com by 70.8% in the first quarter. Russell Investments Group Ltd. now owns 186,332 shares of the company’s stock worth $1,606,000 after buying an additional 77,223 shares during the period. AQR Capital Management LLC lifted its holdings in LegalZoom.com by 158.6% during the 1st quarter. AQR Capital Management LLC now owns 939,999 shares of the company’s stock valued at $8,093,000 after buying an additional 576,528 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of LegalZoom.com by 48.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,352,865 shares of the company’s stock worth $12,054,000 after buying an additional 442,345 shares during the period. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

NASDAQ LZ opened at $10.02 on Thursday. The company has a market cap of $1.78 billion, a P/E ratio of 83.51, a P/E/G ratio of 3.74 and a beta of 1.23. LegalZoom.com, Inc. has a 1-year low of $6.47 and a 1-year high of $12.40. The stock has a 50-day moving average of $9.86 and a two-hundred day moving average of $9.81.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The business had revenue of $190.16 million during the quarter, compared to analyst estimates of $183.27 million. During the same quarter last year, the firm earned $0.17 EPS. The business’s revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on LZ. Weiss Ratings reiterated a “hold (c)” rating on shares of LegalZoom.com in a research note on Monday. JPMorgan Chase & Co. lifted their price target on LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Wall Street Zen downgraded shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Morgan Stanley raised their price objective on LegalZoom.com from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Insiders Place Their Bets

In related news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, the chief financial officer directly owned 1,551,582 shares in the company, valued at $14,833,123.92. This trade represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Miller sold 23,506 shares of LegalZoom.com stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total value of $226,362.78. Following the sale, the insider owned 868,627 shares in the company, valued at $8,364,878.01. This trade represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.90% of the company’s stock.

LegalZoom.com Company Profile

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.