Harbor Capital Advisors Inc. Sells 588,419 Shares of LegalZoom.com, Inc. $LZ

Harbor Capital Advisors Inc. reduced its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 63.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,764 shares of the company’s stock after selling 588,419 shares during the period. Harbor Capital Advisors Inc. owned 0.19% of LegalZoom.com worth $3,527,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LZ. Driehaus Capital Management LLC acquired a new stake in LegalZoom.com in the 1st quarter worth about $10,822,000. Qube Research & Technologies Ltd raised its holdings in LegalZoom.com by 180.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock valued at $16,014,000 after buying an additional 1,156,462 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of LegalZoom.com in the 1st quarter valued at about $9,457,000. Lazard Asset Management LLC raised its holdings in LegalZoom.com by 507.3% during the 2nd quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock worth $9,842,000 after purchasing an additional 922,829 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new stake in LegalZoom.com during the first quarter valued at $6,897,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $10.02 on Thursday. The company has a market capitalization of $1.78 billion, a P/E ratio of 83.51, a PEG ratio of 3.74 and a beta of 1.23. The stock has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $9.81. LegalZoom.com, Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm 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 revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LZ has been the topic of a number of research reports. Barclays boosted their target price on shares of LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of LegalZoom.com in a research note on Monday. Citigroup reduced their price target on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Friday, November 21st. Morgan Stanley increased their price target on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and a consensus price target of $11.50.

Insider Activity

In other news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, the chief financial officer owned 1,551,582 shares of the company’s stock, valued at approximately $14,833,123.92. The trade was a 0.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Miller sold 23,506 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $8,364,878.01. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.90% of the company’s stock.

LegalZoom.com Company Profile

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.