Boston Partners Takes $22.62 Million Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Boston Partners purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,811,693 shares of the company’s stock, valued at approximately $22,620,000. Boston Partners owned 0.95% of LegalZoom.com at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in LegalZoom.com during the 1st quarter worth $38,000. MetLife Investment Management LLC acquired a new position in LegalZoom.com during the 1st quarter worth $63,000. Nisa Investment Advisors LLC grew its holdings in LegalZoom.com by 201.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,775 shares of the company’s stock worth $45,000 after acquiring an additional 3,190 shares in the last quarter. Royal Bank of Canada grew its holdings in LegalZoom.com by 49.9% during the 1st quarter. Royal Bank of Canada now owns 5,099 shares of the company’s stock worth $72,000 after acquiring an additional 1,697 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in LegalZoom.com during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LZ. JPMorgan Chase & Co. lifted their price objective on shares of LegalZoom.com from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Morgan Stanley upped their price objective on shares of LegalZoom.com from $9.00 to $9.50 and gave the company an “underweight” rating in a research note on Tuesday, November 14th. Citigroup upped their price objective on shares of LegalZoom.com from $15.00 to $17.00 in a research note on Wednesday, August 9th. Credit Suisse Group increased their price target on shares of LegalZoom.com from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Finally, JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of LegalZoom.com in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.93.

Insider Transactions at LegalZoom.com

In related news, Director Dipan Patel sold 2,094,240 shares of LegalZoom.com stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $9.55, for a total transaction of $19,999,992.00. Following the transaction, the director now owns 15,099,993 shares of the company’s stock, valued at approximately $144,204,933.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dipan Patel sold 2,094,240 shares of LegalZoom.com stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $9.55, for a total value of $19,999,992.00. Following the sale, the director now directly owns 15,099,993 shares in the company, valued at $144,204,933.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Noel Bertram Watson sold 25,000 shares of LegalZoom.com stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $11.17, for a total transaction of $279,250.00. Following the completion of the sale, the chief financial officer now owns 660,695 shares in the company, valued at $7,379,963.15. The disclosure for this sale can be found here. In the last three months, insiders sold 38,037,988 shares of company stock valued at $382,782,276. Company insiders own 44.60% of the company’s stock.

LegalZoom.com Trading Up 0.5 %

NASDAQ LZ opened at $11.24 on Friday. The company has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $11.51. 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. LegalZoom.com, Inc. has a 1 year low of $6.89 and a 1 year high of $15.68.

LegalZoom.com Profile

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.