LegalZoom.com (NASDAQ:LZ) CFO Noel Bertram Watson Sells 416,371 Shares of Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 416,371 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61. Following the transaction, the chief financial officer owned 1,491,430 shares of the company’s stock, valued at approximately $8,814,351.30. This represents a 21.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 21st, Noel Bertram Watson sold 83,629 shares of LegalZoom.com stock. The shares were sold at an average price of $5.83, for a total value of $487,557.07.

LegalZoom.com Trading Down 0.3%

LZ stock opened at $5.84 on Friday. The business’s fifty day moving average price is $6.67 and its 200 day moving average price is $6.50. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40. The company has a market capitalization of $1.00 billion, a PE ratio of 64.89, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $205.29 million during the quarter, compared to analysts’ expectations of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.LegalZoom.com’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. Research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LZ has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. William Blair lowered LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Wall Street Zen lowered LegalZoom.com from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup lowered their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, UBS Group cut their price target on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, LegalZoom.com currently has a consensus rating of “Reduce” and a consensus target price of $7.30.

Institutional Trading of LegalZoom.com

Institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC increased its holdings in shares of LegalZoom.com by 2.8% in the 2nd 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 stake in LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares during the last quarter. Prelude Capital Management LLC lifted its stake in LegalZoom.com by 11.6% during the third 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 last quarter. Chase Investment Counsel Corp lifted its stake in LegalZoom.com by 12.3% during the fourth 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 last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in LegalZoom.com by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after purchasing an additional 1,705 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.