CenterBook Partners LP Takes Position in LegalZoom.com, Inc. (NASDAQ:LZ)

CenterBook Partners LP acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 138,394 shares of the company’s stock, valued at approximately $1,039,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in LegalZoom.com in the third quarter worth approximately $143,000. Barclays PLC grew its holdings in shares of LegalZoom.com by 308.5% during the 3rd quarter. Barclays PLC now owns 224,782 shares of the company’s stock worth $1,427,000 after purchasing an additional 169,761 shares during the period. Franklin Resources Inc. grew its holdings in shares of LegalZoom.com by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock worth $20,310,000 after purchasing an additional 132,189 shares during the period. JPMorgan Chase & Co. increased its position in shares of LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock worth $3,605,000 after purchasing an additional 71,291 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in LegalZoom.com by 44.8% in the 4th quarter. SG Americas Securities LLC now owns 90,104 shares of the company’s stock valued at $677,000 after buying an additional 27,867 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Trading Down 2.6 %

LegalZoom.com stock opened at $7.13 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 54.85, a P/E/G ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $12.85. The stock’s fifty day simple moving average is $8.98 and its 200-day simple moving average is $8.15.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LZ shares. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday. Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Barclays upped their price target on LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, LegalZoom.com has an average rating of “Hold” and a consensus target price of $9.19.

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.