State Board of Administration of Florida Retirement System Buys Shares of 24,550 LegalZoom.com, Inc. (NASDAQ:LZ)

State Board of Administration of Florida Retirement System bought a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,550 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LZ. Vanguard Group Inc. raised its holdings in LegalZoom.com by 1,695.6% during the 1st quarter. Vanguard Group Inc. now owns 6,641,693 shares of the company’s stock valued at $93,913,000 after acquiring an additional 6,271,804 shares during the period. Hawk Ridge Capital Management LP grew its position in shares of LegalZoom.com by 143.8% during the 1st quarter. Hawk Ridge Capital Management LP now owns 3,906,537 shares of the company’s stock valued at $55,238,000 after purchasing an additional 2,303,988 shares in the last quarter. BlackRock Inc. grew its position in shares of LegalZoom.com by 50.6% during the 1st quarter. BlackRock Inc. now owns 5,491,412 shares of the company’s stock valued at $77,649,000 after purchasing an additional 1,843,874 shares in the last quarter. State Street Corp grew its position in shares of LegalZoom.com by 233.8% during the 1st quarter. State Street Corp now owns 787,251 shares of the company’s stock valued at $11,132,000 after purchasing an additional 551,376 shares in the last quarter. Finally, Premier Fund Managers Ltd purchased a new position in shares of LegalZoom.com during the 1st quarter valued at $2,503,000. Institutional investors own 71.24% of the company’s stock.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, November 11th. Barclays cut their target price on shares of LegalZoom.com to $15.00 in a research report on Wednesday, November 16th. Credit Suisse Group cut their target price on shares of LegalZoom.com from $19.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 11th. Moffett Nathanson started coverage on shares of LegalZoom.com in a research report on Thursday, September 22nd. They issued an “underperform” rating and a $11.00 target price for the company. Finally, JMP Securities lowered shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.38.

LegalZoom.com Stock Down 2.1 %

LegalZoom.com stock opened at $8.81 on Tuesday. The company has a market capitalization of $1.70 billion, a PE ratio of -23.18 and a beta of 0.60. The firm has a fifty day simple moving average of $8.93 and a two-hundred day simple moving average of $10.58. LegalZoom.com, Inc. has a twelve month low of $7.53 and a twelve month high of $19.75.

LegalZoom.com Profile

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LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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Institutional Ownership by Quarter for LegalZoom.com (NASDAQ:LZ)

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