230,087 LegalZoom.com, Inc. $LZ Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 51.8% in the third quarter, Holdings Channel.com reports. The fund owned 213,973 shares of the company’s stock after selling 230,087 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in LegalZoom.com were worth $1,200,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of LegalZoom.com by 255.1% in the 2nd quarter. Allworth Financial LP now owns 5,014 shares of the company’s stock valued at $31,000 after purchasing an additional 3,602 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in LegalZoom.com by 11,415.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock worth $43,000 after buying an additional 7,534 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in LegalZoom.com during the second quarter worth about $47,000. Cetera Investment Advisers purchased a new stake in LegalZoom.com during the first quarter worth about $58,000. Finally, Headlands Technologies LLC acquired a new position in LegalZoom.com during the second quarter worth about $67,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other LegalZoom.com news, CFO Noel Watson sold 83,629 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $5.83, for a total value of $487,557.07. Following the sale, the chief financial officer owned 1,407,801 shares of the company’s stock, valued at $8,207,479.83. This represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Miller sold 33,479 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $5.51, for a total transaction of $184,469.29. Following the completion of the sale, the insider owned 943,453 shares in the company, valued at $5,198,426.03. This represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 577,475 shares of company stock worth $3,375,197 in the last ninety days. Insiders own 7.40% of the company’s stock.

LegalZoom.com Stock Up 1.0%

LegalZoom.com stock opened at $7.06 on Tuesday. The firm has a market capitalization of $1.21 billion, a PE ratio of 78.44, a P/E/G ratio of 1.31 and a beta of 1.20. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40. The firm’s 50-day simple moving average is $6.03 and its 200 day simple moving average is $6.65.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The firm had revenue of $205.29 million during the quarter, compared to the consensus estimate of $205.83 million. During the same period last year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LZ. Wall Street Zen raised shares of LegalZoom.com from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings upgraded shares of LegalZoom.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. Finally, William Blair cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $7.30.

About LegalZoom.com

LegalZoom.com, Inc is an online platform that provides legal, compliance and tax-related products and services to individuals, families and small businesses. The company’s platform is designed to make common legal and administrative processes more accessible through digital tools, guided services and access to independent professionals.

LegalZoom’s offerings include business formation services for limited liability companies and corporations, registered-agent services, annual compliance support, business licensing and trademark services.