LegalZoom.com (NASDAQ:LZ) Insider Sells $126,329.42 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 19,199 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total transaction of $126,329.42. Following the completion of the sale, the insider owned 1,119,222 shares of the company’s stock, valued at approximately $7,364,480.76. This represents a 1.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.

Nicole Miller also recently made the following trade(s):

• On Thursday, February 26th, Nicole Miller sold 23,325 shares of LegalZoom.com stock. The shares were sold at an average price of $6.63, for a total transaction of $154,644.75.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $6.45 on Friday. LegalZoom.com, Inc. has a one year low of $5.28 and a one year high of $12.40. The firm has a market cap of $1.11 billion, a P/E ratio of 107.52, a P/E/G ratio of 1.13 and a beta of 1.33. The firm has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $7.93.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The business had revenue of $206.78 million during the quarter, compared to the consensus estimate of $202.14 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

LegalZoom.com announced that its board has approved a stock repurchase plan on Thursday, February 19th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $40,000. Clearstead Advisors LLC grew its position in shares of LegalZoom.com by 58.5% in the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after buying an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 worth $41,000 after buying an additional 4,140 shares during the last quarter. Finally, Parallel Advisors LLC grew 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 worth $53,000 after buying an additional 5,068 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays restated an “underweight” rating and issued a $6.00 price target (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. UBS Group reduced their price target on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. JPMorgan Chase & Co. cut their price objective on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

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.