Nicole Miller Sells 43,996 Shares of LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 43,996 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.51, for a total transaction of $242,417.96. Following the transaction, the insider owned 976,932 shares of the company’s stock, valued at approximately $5,382,895.32. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nicole Miller also recently made the following trade(s):

• On Tuesday, August 18th, Nicole Miller sold 33,479 shares of LegalZoom.com stock. The stock was sold at an average price of $5.51, for a total transaction of $184,469.29.

LegalZoom.com Price Performance

NASDAQ LZ opened at $5.86 on Thursday. LegalZoom.com, Inc. has a 12 month low of $5.22 and a 12 month high of $12.40. The company has a market capitalization of $1.00 billion, a P/E ratio of 65.11, a PEG ratio of 1.07 and a beta of 1.28. The company’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $6.52.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $205.29 million during the quarter, compared to analysts’ expectations of $205.83 million. LegalZoom.com had a net margin of 2.13% and a return on equity of 15.83%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. On average, analysts anticipate that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group cut their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research report on Thursday, August 6th. Wall Street Zen cut LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. William Blair downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, LegalZoom.com presently has a consensus rating of “Reduce” and a consensus price target of $7.30.

Institutional Trading of LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of LZ. Jupiter Asset Management Ltd. boosted its position in LegalZoom.com by 255.5% during the 4th quarter. Jupiter Asset Management Ltd. now owns 231,773 shares of the company’s stock worth $2,302,000 after acquiring an additional 166,574 shares during the period. UBS Group AG increased its holdings in shares of LegalZoom.com by 87.9% in the 4th quarter. UBS Group AG now owns 613,537 shares of the company’s stock valued at $6,092,000 after purchasing an additional 287,063 shares during the period. Punch & Associates Investment Management Inc. lifted its position in shares of LegalZoom.com by 23.6% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock worth $26,087,000 after purchasing an additional 500,787 shares in the last quarter. Hawk Ridge Capital Management LP lifted its position in shares of LegalZoom.com by 48.7% in the first quarter. Hawk Ridge Capital Management LP now owns 735,929 shares of the company’s stock worth $4,173,000 after purchasing an additional 241,100 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of LegalZoom.com during the first quarter worth approximately $2,918,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

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.