Raymond James & Associates Acquires 49,662 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Raymond James & Associates grew its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZGet Rating) by 35.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,147 shares of the company’s stock after acquiring an additional 49,662 shares during the period. Raymond James & Associates owned about 0.10% of LegalZoom.com worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LZ. Vanguard Group Inc. boosted its holdings in LegalZoom.com by 1,695.6% in the 1st quarter. Vanguard Group Inc. now owns 6,641,693 shares of the company’s stock worth $93,913,000 after buying an additional 6,271,804 shares during the period. BlackRock Inc. boosted its holdings in LegalZoom.com by 50.6% in the 1st quarter. BlackRock Inc. now owns 5,491,412 shares of the company’s stock worth $77,649,000 after buying an additional 1,843,874 shares during the period. State Street Corp boosted its holdings in LegalZoom.com by 79.4% in the 2nd quarter. State Street Corp now owns 1,412,233 shares of the company’s stock worth $15,520,000 after buying an additional 624,982 shares during the period. FMR LLC boosted its holdings in LegalZoom.com by 69.9% in the 2nd quarter. FMR LLC now owns 1,416,387 shares of the company’s stock worth $15,567,000 after buying an additional 582,842 shares during the period. Finally, Pathway Capital Management LP bought a new position in LegalZoom.com in the 2nd quarter worth $5,866,000. Institutional investors own 69.36% of the company’s stock.

LegalZoom.com Trading Down 0.6 %

Shares of NASDAQ LZ opened at $8.41 on Wednesday. The firm’s 50-day moving average price is $8.48 and its 200-day moving average price is $9.29. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -22.13 and a beta of 0.62. LegalZoom.com, Inc. has a 12-month low of $7.37 and a 12-month high of $17.36.

LegalZoom.com (NASDAQ:LZGet Rating) last announced its earnings results on Thursday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $154.42 million for the quarter, compared to analysts’ expectations of $150.07 million. LegalZoom.com had a negative net margin of 12.15% and a negative return on equity of 38.19%. On average, equities analysts predict that LegalZoom.com, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays dropped their target price on shares of LegalZoom.com to $15.00 in a report on Wednesday, November 16th. Credit Suisse Group decreased their price target on shares of LegalZoom.com from $19.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 11th. Finally, Morgan Stanley boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, November 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, LegalZoom.com has an average rating of “Hold” and an average target price of $16.67.

About LegalZoom.com

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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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