LegalZoom.com (NASDAQ:LZ) CEO Jeffrey Stibel Purchases 125,000 Shares

LegalZoom.com, Inc. (NASDAQ:LZ) CEO Jeffrey Stibel purchased 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $6.15 per share, for a total transaction of $768,750.00. Following the completion of the purchase, the chief executive officer directly owned 2,955,609 shares in the company, valued at $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded down $0.03 on Monday, reaching $6.10. The company’s stock had a trading volume of 3,050,937 shares, compared to its average volume of 2,583,398. The stock has a market capitalization of $1.05 billion, a P/E ratio of 101.68, a PEG ratio of 1.27 and a beta of 1.33. The stock’s 50-day moving average is $6.23 and its two-hundred day moving average is $8.16. LegalZoom.com, Inc. has a 52-week low of $5.28 and a 52-week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $206.78 million for the quarter, compared to analyst estimates of $202.14 million. LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. Equities analysts forecast that LegalZoom.com, Inc. will post 0.27 earnings per share for the current fiscal year.

LegalZoom.com declared that its board has initiated a share buyback plan on Thursday, February 19th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in LegalZoom.com by 60.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,170,327 shares of the company’s stock worth $22,528,000 after acquiring an additional 817,462 shares during the last quarter. Invenomic Capital Management LP grew its holdings in LegalZoom.com by 43.9% during the third quarter. Invenomic Capital Management LP now owns 1,281,765 shares of the company’s stock valued at $13,305,000 after purchasing an additional 390,742 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at $18,106,000. SG Americas Securities LLC bought a new stake in shares of LegalZoom.com in the fourth quarter worth about $5,304,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in LegalZoom.com by 120.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 166,156 shares of the company’s stock worth $1,650,000 after purchasing an additional 90,762 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

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

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.