Coatue Management LLC purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,281 shares of the company’s stock, valued at approximately $768,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Full18 Capital LLC bought a new position in LegalZoom.com during the 2nd quarter valued at approximately $537,000. Artemis Investment Management LLP purchased a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $7,525,000. Monashee Investment Management LLC purchased a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $6,624,000. TA Associates L.P. purchased a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $226,202,000. Finally, Laurion Capital Management LP purchased a new position in shares of LegalZoom.com during the 2nd quarter worth approximately $3,785,000. 40.87% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Citigroup reduced their target price on LegalZoom.com from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 5th. Raymond James started coverage on LegalZoom.com in a research note on Monday, July 26th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded LegalZoom.com from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group started coverage on LegalZoom.com in a research note on Monday, July 26th. They issued a “hold” rating and a $39.00 price target on the stock. Finally, Bank of America started coverage on LegalZoom.com in a research note on Tuesday, July 27th. They issued a “hold” rating and a $40.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and a consensus target price of $42.88.
LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Thursday, August 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. The business had revenue of $150.43 million for the quarter, compared to analysts’ expectations of $139.38 million. Equities analysts expect that LegalZoom.com, Inc. will post -0.33 earnings per share for the current fiscal year.
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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