Balyasny Asset Management L.P. Sells 47,922 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Balyasny Asset Management L.P. lowered its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,577 shares of the company’s stock after selling 47,922 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.11% of LegalZoom.com worth $1,454,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Mariner LLC grew its position in shares of LegalZoom.com by 5.6% during the fourth quarter. Mariner LLC now owns 44,638 shares of the company’s stock worth $335,000 after purchasing an additional 2,348 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in LegalZoom.com by 6.8% during the 4th quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock valued at $552,000 after buying an additional 4,697 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in LegalZoom.com by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company’s stock valued at $490,000 after buying an additional 5,045 shares in the last quarter. Walleye Trading LLC grew its holdings in LegalZoom.com by 33.2% during the 4th quarter. Walleye Trading LLC now owns 21,090 shares of the company’s stock valued at $158,000 after buying an additional 5,252 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in LegalZoom.com by 8.5% during the 4th quarter. MetLife Investment Management LLC now owns 85,168 shares of the company’s stock valued at $640,000 after buying an additional 6,669 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

NASDAQ:LZ opened at $9.51 on Wednesday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 73.16, a PEG ratio of 1.73 and a beta of 1.14. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $10.60. The business has a 50 day simple moving average of $8.17 and a 200-day simple moving average of $8.27.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. During the same period last year, the company earned $0.09 EPS. LegalZoom.com’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. William Blair restated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Barclays raised their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Friday, April 11th. JPMorgan Chase & Co. raised their price target on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley raised their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, LegalZoom.com presently has a consensus rating of “Hold” and an average price target of $9.19.

LegalZoom.com Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.