LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson Sells 25,000 Shares of Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 25,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $11.17, for a total value of $279,250.00. Following the completion of the transaction, the chief financial officer now directly owns 660,695 shares in the company, valued at approximately $7,379,963.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

LegalZoom.com Price Performance

NASDAQ:LZ opened at $11.24 on Friday. LegalZoom.com, Inc. has a 1 year low of $6.89 and a 1 year high of $15.68. The stock’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $11.49. The company has a market cap of $2.11 billion, a P/E ratio of 224.84, a P/E/G ratio of 1.67 and a beta of 1.04.

Institutional Trading of LegalZoom.com

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of LegalZoom.com by 13.0% during the third quarter. Vanguard Group Inc. now owns 9,590,660 shares of the company’s stock valued at $82,191,000 after buying an additional 1,100,847 shares during the period. BlackRock Inc. raised its position in shares of LegalZoom.com by 11.0% in the second quarter. BlackRock Inc. now owns 9,353,457 shares of the company’s stock worth $112,990,000 after buying an additional 929,585 shares in the last quarter. Hawk Ridge Capital Management LP boosted its position in shares of LegalZoom.com by 47.5% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 5,598,836 shares of the company’s stock valued at $61,251,000 after acquiring an additional 1,802,959 shares during the last quarter. Blair William & Co. IL raised its stake in LegalZoom.com by 166.0% in the third quarter. Blair William & Co. IL now owns 3,476,226 shares of the company’s stock valued at $38,030,000 after purchasing an additional 2,169,132 shares in the last quarter. Finally, Boston Partners lifted its position in LegalZoom.com by 83.0% during the third quarter. Boston Partners now owns 3,315,845 shares of the company’s stock valued at $35,877,000 after purchasing an additional 1,504,152 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of LegalZoom.com from $15.00 to $17.00 in a research report on Wednesday, August 9th. Morgan Stanley increased their target price on shares of LegalZoom.com from $9.00 to $9.50 and gave the company an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of LegalZoom.com from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. TheStreet lowered LegalZoom.com from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Finally, Barclays raised their target price on LegalZoom.com from $12.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.93.

About LegalZoom.com

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.