Noel Bertram Watson Sells 416,371 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 416,371 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $5.91, for a total value of $2,460,752.61. Following the completion of the transaction, the chief financial officer owned 1,491,430 shares in the company, valued at approximately $8,814,351.30. This represents a 21.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Noel Bertram Watson also recently made the following trade(s):

• On Friday, August 21st, Noel Bertram Watson sold 83,629 shares of LegalZoom.com stock. The stock was sold at an average price of $5.83, for a total value of $487,557.07.

LegalZoom.com Trading Down 0.3%

Shares of NASDAQ:LZ opened at $5.84 on Friday. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40. The stock has a market capitalization of $1.00 billion, a P/E ratio of 64.89, a P/E/G ratio of 1.10 and a beta of 1.28. The business has a 50-day moving average price of $6.67 and a two-hundred day moving average price of $6.50.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The company had revenue of $205.29 million for the quarter, compared to analyst estimates of $205.83 million. During the same quarter last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in 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 purchasing an additional 3,766 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after buying an additional 4,140 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of LegalZoom.com by 11,415.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after buying an additional 7,534 shares during the period. Parallel Advisors LLC increased its position in shares of 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 buying an additional 5,068 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of LegalZoom.com in the 1st quarter valued at $58,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LZ. Citigroup reduced their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of LegalZoom.com in a research report on Thursday, August 6th. Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Finally, William Blair downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.30.

About LegalZoom.com

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.