LegalZoom.com, Inc. $LZ Shares Sold by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC decreased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 9.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,115,260 shares of the company’s stock after selling 122,375 shares during the quarter. LegalZoom.com makes up about 0.9% of Coastal Bridge Advisors LLC’s holdings, making the stock its 26th biggest holding. Coastal Bridge Advisors LLC’s holdings in LegalZoom.com were worth $11,576,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LZ. Exchange Traded Concepts LLC acquired a new stake in LegalZoom.com in the 3rd quarter valued at about $34,000. Parkside Financial Bank & Trust acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at $40,000. Osaic Holdings Inc. boosted its stake in 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 acquiring an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 4,140 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of LegalZoom.com in the second quarter valued at approximately $78,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total transaction of $143,400.00. Following the transaction, the chief financial officer directly owned 1,551,582 shares in the company, valued at $14,833,123.92. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Miller sold 23,506 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total transaction of $226,362.78. Following the completion of the transaction, the insider directly owned 868,627 shares in the company, valued at $8,364,878.01. This represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.90% of the company’s stock.

LegalZoom.com Stock Up 5.0%

LZ opened at $9.32 on Thursday. The company has a 50 day moving average of $9.62 and a two-hundred day moving average of $9.93. LegalZoom.com, Inc. has a 52-week low of $6.47 and a 52-week high of $12.40. The company has a market cap of $1.65 billion, a P/E ratio of 77.67, a P/E/G ratio of 1.50 and a beta of 1.22.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $190.16 million during the quarter, compared to analysts’ expectations of $183.27 million. LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 EPS. Research analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup reduced their price objective on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, November 21st. Barclays upped their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Morgan Stanley upped their price target on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 13th. Wall Street Zen cut shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LegalZoom.com in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has an average rating of “Hold” and a consensus price target of $11.50.

LegalZoom.com 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.