Jeffrey Stibel Acquires 125,000 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CEO Jeffrey Stibel bought 125,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $6.15 per share, for a total transaction of $768,750.00. Following the completion of the acquisition, the chief executive officer directly owned 2,955,609 shares of the company’s stock, valued at $18,176,995.35. This trade represents a 4.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $6.16 on Wednesday. LegalZoom.com, Inc. has a one year low of $5.28 and a one year high of $12.40. The company has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $8.13. The firm has a market capitalization of $1.06 billion, a PE ratio of 102.68, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data 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). LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The business had revenue of $206.78 million for the quarter, compared to analyst estimates of $202.14 million. During the same quarter last year, the company earned $0.13 EPS. LegalZoom.com’s revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that LegalZoom.com, Inc. will post 0.27 earnings per share for the current year.

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

Analyst Ratings Changes

Several brokerages recently issued reports on LZ. Weiss Ratings downgraded LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. UBS Group dropped 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. cut their target price on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Barclays restated an “underweight” rating and set a $6.00 price target (down from $9.00) on shares of LegalZoom.com in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $9.25.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC lifted its stake in shares of LegalZoom.com by 2.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after acquiring an additional 1,139 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock valued at $51,000 after acquiring an additional 1,403 shares during the period. Clearstead Advisors LLC increased its stake in shares of LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after acquiring an additional 1,441 shares during the period. Prelude Capital Management LLC raised its holdings in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in LegalZoom.com by 12.3% during the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after purchasing an additional 1,489 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

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.