LegalZoom.com (NASDAQ:LZ) Insider Nicole Miller Sells 23,325 Shares

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 23,325 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 813,033 shares in the company, valued at approximately $5,390,408.79. This represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

LegalZoom.com Stock Performance

LegalZoom.com stock traded up $0.02 during trading on Friday, reaching $7.03. 3,766,793 shares of the company’s stock were exchanged, compared to its average volume of 3,993,420. LegalZoom.com, Inc. has a 52-week low of $6.14 and a 52-week high of $12.40. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 87.89, a PEG ratio of 1.43 and a beta of 1.22. The company’s 50-day moving average is $8.70 and its two-hundred day moving average is $9.69.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The company had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $184.85 million. During the same period last year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

LegalZoom.com declared that its board has approved a stock repurchase program on Thursday, February 19th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of LegalZoom.com in the 4th quarter valued at approximately $185,000. Amundi bought a new position in LegalZoom.com during the first quarter worth $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in LegalZoom.com by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock worth $646,000 after purchasing an additional 2,161 shares during the period. Goldman Sachs Group Inc. boosted its holdings in LegalZoom.com by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock worth $11,309,000 after purchasing an additional 113,769 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of LegalZoom.com by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company’s stock worth $2,376,000 after purchasing an additional 4,607 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LZ shares. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. UBS Group dropped their price target on shares of LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Citigroup decreased their price objective on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Friday, November 21st. Barclays raised their target price on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley boosted their price target on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.42.

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.