LegalZoom.com (NASDAQ:LZ) Insider Nicole Miller Sells 23,325 Shares

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 23,325 shares of LegalZoom.com stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $6.63, for a total transaction of $154,644.75. Following the sale, the insider directly owned 813,033 shares in the company, valued at $5,390,408.79. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LegalZoom.com Price Performance

NASDAQ:LZ opened at $7.03 on Friday. The firm has a 50-day moving average of $8.63 and a two-hundred day moving average of $9.67. The stock has a market cap of $1.22 billion, a P/E ratio of 87.89, a PEG ratio of 1.53 and a beta of 1.22. LegalZoom.com, Inc. has a 1-year low of $6.14 and a 1-year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $190.27 million during the quarter, compared to analyst estimates of $184.85 million. LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. As a group, equities analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

LegalZoom.com declared that its Board of Directors has initiated a share buyback plan on Thursday, February 19th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On LegalZoom.com

A number of hedge funds and other institutional investors have recently bought and sold shares of LZ. Exchange Traded Concepts LLC acquired a new stake in shares of LegalZoom.com during the 3rd quarter worth approximately $34,000. Parkside Financial Bank & Trust bought a new position in LegalZoom.com during the 3rd quarter worth $40,000. Clearstead Advisors LLC increased its position in LegalZoom.com by 58.5% in the third 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 period. Osaic Holdings Inc. lifted 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 buying an additional 3,766 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in LegalZoom.com by 976.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after buying an additional 4,140 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LZ has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Barclays boosted their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th. Citigroup decreased their price target 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. Finally, William Blair upgraded LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.42.

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.