Insider Selling: LegalZoom.com (NASDAQ:LZ) CFO Sells $487,557.07 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 83,629 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $5.83, for a total value of $487,557.07. Following the completion of the transaction, the chief financial officer owned 1,407,801 shares in the company, valued at approximately $8,207,479.83. This trade represents a 5.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Noel Bertram Watson also recently made the following trade(s):

• On Thursday, August 20th, Noel Bertram Watson sold 416,371 shares of LegalZoom.com stock. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61.

LegalZoom.com Stock Performance

Shares of LZ opened at $5.84 on Monday. The stock has a 50 day moving average price of $6.67 and a 200 day moving average price of $6.48. LegalZoom.com, Inc. has a one year low of $5.22 and a one year high of $12.40. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 64.89, a PEG ratio of 1.10 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $205.29 million for the quarter, compared to analysts’ expectations of $205.83 million. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. On average, analysts predict that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LZ. EP Wealth Advisors LLC increased its position in shares of LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock valued at $368,000 after acquiring an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of LegalZoom.com by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after acquiring an additional 1,403 shares during the last quarter. Prelude Capital Management LLC boosted its position in shares of LegalZoom.com by 11.6% during the 3rd 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 during the period. Chase Investment Counsel Corp boosted its position in shares of LegalZoom.com by 12.3% during the 4th 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 during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of LegalZoom.com by 2.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock worth $594,000 after purchasing an additional 1,705 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. 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. Finally, Citigroup lowered their price target on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 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.