LegalZoom.com (NASDAQ:LZ) Stock Price Down 10.5%

LegalZoom.com, Inc. (NASDAQ:LZGet Rating)’s stock price traded down 10.5% during trading on Tuesday . The company traded as low as $11.89 and last traded at $12.09. 70,472 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,187,311 shares. The stock had previously closed at $13.51.

A number of equities research analysts have commented on the stock. Credit Suisse Group dropped their price objective on shares of LegalZoom.com from $40.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, March 11th. Zacks Investment Research raised shares of LegalZoom.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley increased their price objective on shares of LegalZoom.com from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 23rd. Barclays dropped their price objective on shares of LegalZoom.com from $32.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, March 11th. Finally, JMP Securities reissued a “buy” rating and issued a $31.00 price objective on shares of LegalZoom.com in a research report on Thursday, March 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, LegalZoom.com presently has a consensus rating of “Buy” and an average price target of $26.25.

The stock’s 50-day moving average is $14.07 and its 200 day moving average is $16.57.

LegalZoom.com (NASDAQ:LZGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $142.14 million for the quarter, compared to analysts’ expectations of $143.70 million. The firm’s revenue was up 16.3% on a year-over-year basis. As a group, analysts predict that LegalZoom.com, Inc. will post -0.21 EPS for the current year.

In other LegalZoom.com news, insider Shrisha Radhakrishna sold 13,842 shares of the firm’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $16.00, for a total transaction of $221,472.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Nicole Miller sold 3,835 shares of the firm’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $16.00, for a total transaction of $61,360.00. The disclosure for this sale can be found here. Insiders sold 59,673 shares of company stock valued at $927,946 in the last quarter.

A number of large investors have recently bought and sold shares of LZ. BlackRock Inc. lifted its stake 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 worth $77,649,000 after purchasing an additional 1,843,874 shares during the period. Hawk Ridge Capital Management LP lifted its stake 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 worth $55,238,000 after purchasing an additional 2,303,988 shares during the period. Coastal Bridge Advisors LLC purchased a new position in shares of LegalZoom.com during the 4th quarter worth $46,566,000. Neuberger Berman Group LLC lifted its stake in shares of LegalZoom.com by 20.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,998,021 shares of the company’s stock worth $52,748,000 after purchasing an additional 335,386 shares during the period. Finally, W Capital Management LLC purchased a new position in shares of LegalZoom.com during the 4th quarter worth $30,836,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

LegalZoom.com Company Profile (NASDAQ:LZ)

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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