Pacer Advisors Inc. Decreases Stake in LegalZoom.com, Inc. $LZ

Pacer Advisors Inc. cut its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 25.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 554,330 shares of the company’s stock after selling 188,218 shares during the quarter. Pacer Advisors Inc.’s holdings in LegalZoom.com were worth $5,754,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in LegalZoom.com in the third quarter worth approximately $34,000. Osaic Holdings Inc. increased its position in shares of LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after purchasing an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after purchasing an additional 4,140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of LegalZoom.com in the 2nd quarter valued at $78,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of LegalZoom.com during the 2nd quarter worth $96,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

LZ has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, September 8th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley boosted 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. Barclays increased 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. Finally, 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. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.50.

LegalZoom.com Price Performance

LZ stock opened at $10.02 on Tuesday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 83.51, a price-to-earnings-growth ratio of 3.74 and a beta of 1.23. The company has a fifty day moving average price of $9.87 and a 200 day moving average price of $9.83. LegalZoom.com, Inc. has a 12 month low of $6.47 and a 12 month high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued 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). LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The business had revenue of $190.16 million for the quarter, compared to analysts’ expectations of $183.27 million. During the same period in the previous year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Insider Activity at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total value of $143,400.00. Following the transaction, 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 ownership of the stock. The transaction 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 company’s 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 sale, the insider owned 868,627 shares of the company’s stock, valued at $8,364,878.01. This trade represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by corporate insiders.

LegalZoom.com 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.