LegalZoom.com (NASDAQ:LZ) Earns “Neutral” Rating from JPMorgan Chase & Co.

LegalZoom.com (NASDAQ:LZ)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a research note issued on Thursday, Marketbeat reports. They presently have a $7.00 price objective on the stock, down from their previous price objective of $8.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 21.32% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group cut their price objective on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Citigroup reduced their price objective 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. Finally, Wall Street Zen raised shares of LegalZoom.com from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $7.30.

LegalZoom.com Price Performance

Shares of LZ stock opened at $5.77 on Thursday. LegalZoom.com has a 1 year low of $5.22 and a 1 year high of $12.40. The stock’s 50 day simple moving average is $6.73 and its two-hundred day simple moving average is $6.72. The company has a market cap of $988.17 million, a PE ratio of 64.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The firm had revenue of $205.29 million during the quarter, compared to analysts’ expectations of $205.83 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that LegalZoom.com will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $6.45, for a total transaction of $96,750.00. Following the transaction, the chief financial officer owned 2,041,847 shares in the company, valued at $13,169,913.15. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Also, CEO Jeffrey M. Stibel purchased 125,000 shares of the business’s stock in a transaction 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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 7.40% of the stock is owned by company insiders.

Institutional Trading of LegalZoom.com

A number of hedge funds and other institutional investors have recently made changes to their positions in LZ. Goldman Sachs Group Inc. boosted its stake in LegalZoom.com by 165.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock worth $37,044,000 after purchasing an additional 2,324,481 shares during the last quarter. Boston Partners acquired a new stake in shares of LegalZoom.com in the third quarter valued at about $20,686,000. Bank of America Corp DE lifted its stake in shares of LegalZoom.com by 187.4% in the first quarter. Bank of America Corp DE now owns 2,509,891 shares of the company’s stock worth $14,231,000 after buying an additional 1,636,487 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in LegalZoom.com by 180.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after acquiring an additional 1,156,462 shares during the last quarter. Finally, Norges Bank purchased a new stake in LegalZoom.com during the 4th quarter valued at about $10,526,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.