Short Interest in LegalZoom.com, Inc. (NASDAQ:LZ) Grows By 22.3%

by · The Markets Daily

LegalZoom.com, Inc. (NASDAQ:LZ – Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 13,232,198 shares, an increase of 22.3% from the December 31st total of 10,817,341 shares. Approximately 7.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,936,513 shares, the days-to-cover ratio is presently 6.8 days. Based on an average daily trading volume, of 1,936,513 shares, the days-to-cover ratio is presently 6.8 days. Approximately 7.9% of the company’s shares are sold short.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total value of $143,400.00. Following the sale, the chief financial officer directly owned 1,551,582 shares in the company, valued at $14,833,123.92. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Miller sold 23,506 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total value of $226,362.78. Following the completion of the transaction, the insider directly owned 868,627 shares in the company, valued at $8,364,878.01. This trade represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of LegalZoom.com

A number of hedge funds have recently modified their holdings of LZ. EP Wealth Advisors LLC grew its position in LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after acquiring an additional 1,139 shares during the period. Clearstead Advisors LLC increased its position in shares of LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. Prelude Capital Management LLC boosted its holdings in shares of LegalZoom.com by 11.6% in the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after acquiring an additional 1,470 shares during the period. Avory & Company LLC lifted its position in LegalZoom.com by 0.4% during the 3rd quarter. Avory & Company LLC now owns 376,419 shares of the company’s stock worth $3,907,000 after acquiring an additional 1,586 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of LegalZoom.com by 2.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 75,394 shares of the company’s stock worth $783,000 after purchasing an additional 1,657 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LZ. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LegalZoom.com in a report on Monday, December 29th. Wall Street Zen downgraded shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research downgraded LegalZoom.com from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Barclays upped their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley increased their price objective on shares of LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, LegalZoom.com currently has an average rating of “Hold” and an average target price of $11.50.

Check Out Our Latest Stock Analysis on LZ

LegalZoom.com Price Performance

Shares of LZ stock traded up $0.12 during mid-day trading on Wednesday, hitting $7.44. The company had a trading volume of 2,152,952 shares, compared to its average volume of 3,717,680. The stock’s 50 day moving average price is $9.57 and its 200-day moving average price is $9.93. The company has a market capitalization of $1.32 billion, a P/E ratio of 61.96, a P/E/G ratio of 1.54 and a beta of 1.22. LegalZoom.com has a 52-week low of $6.47 and a 52-week high of $12.40.

LegalZoom.com (NASDAQ:LZ – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $190.16 million during the quarter, compared to analysts’ expectations of $183.27 million. LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. LegalZoom.com’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. On average, equities research analysts expect that LegalZoom.com will post 0.25 earnings per share for the current year.

About LegalZoom.com

(Get Free Report)

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.

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