Insider Selling: LegalZoom.com (NASDAQ:LZ) Insider Sells $154,644.75 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 23,325 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $6.63, for a total value of $154,644.75. Following the completion of the transaction, the insider owned 813,033 shares in the company, valued at $5,390,408.79. This trade represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

LegalZoom.com Trading Up 0.3%

LegalZoom.com stock opened at $7.03 on Monday. The stock has a 50 day moving average of $8.63 and a two-hundred day moving average of $9.65. LegalZoom.com, Inc. has a twelve month low of $6.14 and a twelve month high of $12.40. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 87.89, a PEG ratio of 1.53 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Thursday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $184.85 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

LegalZoom.com declared that its Board of Directors has approved a share buyback program on Thursday, February 19th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LZ. Zacks Research upgraded shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. reduced their price objective on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Barclays upped their price objective on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.42.

Hedge Funds Weigh In On LegalZoom.com

A number of large investors have recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in shares of LegalZoom.com during the 4th quarter valued at $185,000. Amundi acquired a new position in LegalZoom.com in the first quarter valued at $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in LegalZoom.com by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock valued at $646,000 after acquiring an additional 2,161 shares during the period. Goldman Sachs Group Inc. increased its stake in LegalZoom.com by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock worth $11,309,000 after acquiring an additional 113,769 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 acquiring an additional 4,607 shares during the last quarter. Hedge funds and other institutional investors own 81.99% 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.