Punch & Associates Investment Management Inc. Purchases 161,231 Shares of LegalZoom.com, Inc. $LZ

Punch & Associates Investment Management Inc. lifted its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,850,501 shares of the company’s stock after purchasing an additional 161,231 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 1.66% of LegalZoom.com worth $17,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LZ. Osaic Holdings Inc. increased its holdings in LegalZoom.com by 477.3% in the 2nd 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 period. EverSource Wealth Advisors LLC lifted its holdings in shares of LegalZoom.com by 976.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after acquiring an additional 4,140 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of LegalZoom.com by 11,415.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock worth $43,000 after acquiring an additional 7,534 shares during the period. Parallel Advisors LLC boosted its position in shares of LegalZoom.com by 8,589.8% during the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of LegalZoom.com during the 1st quarter valued at about $58,000. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Trading Up 0.5%

Shares of LegalZoom.com stock opened at $5.90 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 65.56, a P/E/G ratio of 1.10 and a beta of 1.28. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40. The firm’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $6.44.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (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 net margin of 2.13% and a return on equity of 15.83%. LegalZoom.com’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, equities research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other LegalZoom.com news, CFO Noel Bertram Watson sold 83,629 shares of LegalZoom.com stock in a transaction on Friday, August 21st. The stock was 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. The trade was a 5.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole Miller sold 33,479 shares of LegalZoom.com stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $5.51, for a total value of $184,469.29. Following the completion of the transaction, the insider owned 943,453 shares of the company’s stock, valued at approximately $5,198,426.03. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 577,475 shares of company stock valued at $3,375,197 over the last ninety days. Insiders own 7.40% 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.