LegalZoom.com (NASDAQ:LZ) Insider Sells $126,329.42 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 19,199 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the sale, the insider directly owned 1,119,222 shares of the company’s stock, valued at approximately $7,364,480.76. The trade was a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.

Nicole Miller also recently made the following trade(s):

• On Thursday, February 26th, Nicole Miller sold 23,325 shares of LegalZoom.com stock. The shares were sold at an average price of $6.63, for a total value of $154,644.75.

LegalZoom.com Stock Performance

Shares of LZ stock traded down $0.21 on Tuesday, hitting $6.37. The company had a trading volume of 4,133,573 shares, compared to its average volume of 3,299,159. The firm has a market cap of $1.09 billion, a P/E ratio of 106.18, a P/E/G ratio of 1.24 and a beta of 1.33. The stock’s 50-day moving average is $6.15 and its two-hundred day moving average is $8.01. LegalZoom.com, Inc. has a twelve month low of $5.28 and a twelve month high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $206.78 million during the quarter, compared to analyst estimates of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Equities research analysts predict that LegalZoom.com, Inc. will post 0.27 EPS for the current year.

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

Institutional Investors Weigh In On LegalZoom.com

Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new stake in LegalZoom.com in the third quarter valued at approximately $40,000. Clearstead Advisors LLC lifted its holdings in shares of LegalZoom.com by 58.5% in the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares in the last quarter. Osaic Holdings Inc. lifted its holdings 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 valued at $41,000 after purchasing an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of LegalZoom.com by 976.4% in the second 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of LegalZoom.com by 11,415.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after purchasing an additional 7,534 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LZ. JPMorgan Chase & Co. decreased their target price on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Zacks Research raised LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings cut LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Barclays reaffirmed an “underweight” rating and set a $6.00 target price (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. Finally, UBS Group decreased their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

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.