Magnetar Financial LLC Purchases Shares of 157,456 LegalZoom.com, Inc. $LZ

Magnetar Financial LLC acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 157,456 shares of the company’s stock, valued at approximately $1,403,000. Magnetar Financial LLC owned about 0.09% of LegalZoom.com at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of LegalZoom.com by 92.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 928,183 shares of the company’s stock worth $8,270,000 after buying an additional 445,343 shares during the period. Mackenzie Financial Corp lifted its position in LegalZoom.com by 104.9% during the first quarter. Mackenzie Financial Corp now owns 172,304 shares of the company’s stock worth $1,484,000 after acquiring an additional 88,218 shares during the last quarter. Nuveen LLC bought a new stake in shares of LegalZoom.com during the first quarter worth approximately $18,585,000. Resolute Capital Asset Partners LLC bought a new stake in shares of LegalZoom.com during the first quarter worth approximately $689,000. Finally, Deutsche Bank AG grew its position in shares of LegalZoom.com by 71.8% in the first quarter. Deutsche Bank AG now owns 778,491 shares of the company’s stock valued at $6,703,000 after purchasing an additional 325,310 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Stock Up 0.9%

LZ stock opened at $9.10 on Friday. LegalZoom.com, Inc. has a 52 week low of $6.47 and a 52 week high of $12.40. The business has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $9.73. The company has a market cap of $1.61 billion, a PE ratio of 75.84, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $190.16 million during the quarter, compared to the consensus estimate of $183.27 million. LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. LegalZoom.com’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

LZ has been the subject of several research reports. Wall Street Zen cut LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Citigroup dropped their target price on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Barclays raised 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 report on Thursday, November 6th. Finally, William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.08.

Insider Activity at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 27,319 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the completion of the sale, the chief financial officer directly owned 1,676,426 shares in the company, valued at $18,558,035.82. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Miller sold 23,506 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $9.63, for a total value of $226,362.78. Following the completion of the sale, the insider directly owned 868,627 shares in the company, valued at approximately $8,364,878.01. This represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,825 shares of company stock valued at $672,184. Company insiders own 5.90% of the company’s stock.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.