Quantinno Capital Management LP Raises Stock Position in LegalZoom.com, Inc. $LZ

Quantinno Capital Management LP raised its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 232.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 393,823 shares of the company’s stock after acquiring an additional 275,236 shares during the period. Quantinno Capital Management LP’s holdings in LegalZoom.com were worth $2,233,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of LegalZoom.com by 20.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,408,170 shares of the company’s stock worth $45,757,000 after buying an additional 758,367 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in LegalZoom.com by 165.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock valued at $37,044,000 after acquiring an additional 2,324,481 shares during the last quarter. Boston Partners lifted its holdings in LegalZoom.com by 81.0% in the fourth quarter. Boston Partners now owns 3,623,111 shares of the company’s stock valued at $36,054,000 after acquiring an additional 1,621,125 shares during the last quarter. Franklin Resources Inc. grew its position in LegalZoom.com by 2.8% in the third quarter. Franklin Resources Inc. now owns 3,327,296 shares of the company’s stock worth $34,537,000 after acquiring an additional 90,599 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in LegalZoom.com by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,112,895 shares of the company’s stock worth $17,650,000 after acquiring an additional 91,131 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at LegalZoom.com

In related news, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total transaction of $126,329.42. Following the sale, the insider directly owned 1,119,222 shares of the company’s stock, valued at $7,364,480.76. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $6.45, for a total transaction of $96,750.00. Following the sale, the chief financial officer owned 2,041,847 shares in the company, valued at approximately $13,169,913.15. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 7.40% of the company’s stock.

LegalZoom.com Trading Down 1.6%

LZ opened at $5.68 on Tuesday. The stock’s 50-day moving average price is $6.71 and its 200 day moving average price is $6.69. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40. The firm has a market cap of $972.76 million, a price-to-earnings ratio of 63.11, a PEG ratio of 1.02 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $205.29 million during the quarter, compared to the consensus estimate of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.LegalZoom.com’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, research analysts forecast that LegalZoom.com, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

LZ has been the topic of a number of research analyst reports. UBS Group reduced their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. 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 report on Friday, May 22nd. Finally, Wall Street Zen cut shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target 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.