LegalZoom.com, Inc. (NASDAQ:LZ) Brief Interest Update

LegalZoom.com, Inc. (NASDAQ: LZ – Get a rating) benefited from a significant increase in short-term interest in September. As of September 15, there was short interest totaling 7,830,000 shares, an increase of 9.5% from the total of 7,150,000 shares as of August 31. Based on an average daily trading volume of 1,470,000 shares, the days-to-cover ratio is currently 5.3 days. Currently, 10.2% of the stock’s shares are sold short.

LegalZoom.com stock performance

Shares of LegalZoom.com opened at $8.57 on Monday. LegalZoom.com has a 52-week minimum of $8.07 and a 52-week maximum of $28.35. The stock has a market capitalization of $1.67 billion, a price-earnings ratio of -16.17 and a beta of 0.30. The company’s 50-day moving average price is $10.31 and its 200-day moving average price is $11.98.

LegalZoom.com (NASDAQ:LZ – Get a rating) last reported results on Thursday, August 11. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). LegalZoom.com had a negative net margin of 17.14% and a negative return on equity of 49.38%. The company posted revenue of $163.87 million for the quarter, compared to $161.29 million expected by analysts. In the same quarter last year, the company made earnings per share ($0.30). The company’s revenue increased 8.9% year over year. As a group, equity research analysts expect LegalZoom.com to post -0.2 earnings per share for the current fiscal year.

Insider trading on LegalZoom.com

Separately, CEO Daniel A. Wernikoff sold 15,977 shares in a trade dated Wednesday, August 17. The shares were sold at an average price of $11.46, for a total value of $183,096.42. As a result of the sale, the CEO now directly owns 441,159 shares of the company, valued at $5,055,682.14. The sale was disclosed in a legal filing with the SEC, available at this link. In related news, insider Shrisha Radhakrishna sold 20,188 shares of the company in a transaction that took place on Wednesday, August 17. The shares were sold at an average price of $11.46, for a total value of $231,354.48. Following the transaction, the insider now directly owns 504,004 shares of the company, valued at $5,775,885.84. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, CEO Daniel A. Wernikoff sold 15,977 shares of the company in a trade that took place on Wednesday, August 17. The stock was sold at an average price of $11.46, for a total transaction of $183,096.42. Following completion of the transaction, the CEO now owns 441,159 shares of the company, valued at $5,055,682.14. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 88,370 shares of the company valued at $1,012,720. 45.90% of the shares are currently held by company insiders.

LegalZoom.com Institutional Trade

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in LegalZoom.com by 9.1% in the first quarter. Victory Capital Management Inc. now owns 12,821 shares of the company worth $184,000 after acquiring an additional 1,068 shares during the period. Whittier Trust Co. increased its position in LegalZoom.com by 19.4% during the second quarter. Whittier Trust Co. now owns 9,697 shares of the company valued at $107,000 after purchasing an additional 1,575 shares during the period. Royal Bank of Canada increased its position in LegalZoom.com by 49.9% during the first quarter. Royal Bank of Canada now owns 5,099 shares of the company valued at $72,000 after purchasing an additional 1,697 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in LegalZoom.com during the first quarter worth $27,000. Finally, Nisa Investment Advisors LLC bought a new position in LegalZoom.com during the second quarter at a value of $28,000. Hedge funds and other institutional investors own 71.24% of the company’s shares.

A Wall Street analyst gives his opinion

A number of research analysts have commented on the headline. JMP Securities downgraded shares of LegalZoom.com from an “outperforming” rating to a “market performing” rating in a Tuesday, September 6 research report. Morgan Stanley cut its price target on LegalZoom.com shares from $9.00 to $7.00 and set an “underweight” rating on the stock in a Wednesday, September 21 research report. Moffett Nathanson assumed LegalZoom.com stock coverage in a Thursday, September 22 research report. They set an “underperforming” rating and a price target of $11.00 for the stock. Barclays reduced its price target on shares of LegalZoom.com to $16.00 in a Monday, August 15 research report. Finally, Credit Suisse Group cut its price target on LegalZoom.com shares from $24.00 to $19.00 and set an “outperform” rating on the stock in a Friday 12 research report. august. Two research analysts gave the stock a sell rating, two gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $19.88.

LegalZoom.com Company Profile

(Get a rating)

LegalZoom.com, Inc operates an online legal and compliance solutions platform in the United States. The Company’s platform offers products and services, including business training, creation of estate planning documents, intellectual property protection, completion of certain forms and agreements, access to attorney advice freelancers and connecting clients with experts for tax preparation and accounting services.

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