Tabor Asset Management LP Sells 405,010 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Tabor Asset Management LP lowered its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 26.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,117,716 shares of the company’s stock after selling 405,010 shares during the period. LegalZoom.com comprises about 4.0% of Tabor Asset Management LP’s investment portfolio, making the stock its 8th biggest holding. Tabor Asset Management LP owned 0.65% of LegalZoom.com worth $8,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in LegalZoom.com by 14.5% in the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock worth $152,241,000 after acquiring an additional 2,574,700 shares in the last quarter. Renaissance Technologies LLC increased its position in LegalZoom.com by 7.6% during the fourth quarter. Renaissance Technologies LLC now owns 3,525,142 shares of the company’s stock worth $26,474,000 after buying an additional 250,409 shares during the last quarter. Ararat Capital Management LP increased its position in LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after buying an additional 682,678 shares during the last quarter. Franklin Resources Inc. raised its holdings in LegalZoom.com by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company’s stock valued at $23,240,000 after buying an additional 26,607 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of LegalZoom.com by 30.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company’s stock worth $15,173,000 after buying an additional 471,338 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.29 on Monday. The company has a 50-day simple moving average of $8.16 and a 200-day simple moving average of $8.32. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60. The firm has a market capitalization of $1.68 billion, a P/E ratio of 71.47, a P/E/G ratio of 1.73 and a beta of 1.14.

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, meeting the consensus estimate of $0.13. The firm had revenue of $183.11 million for the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LZ shares. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Thursday. Barclays boosted their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has an average rating of “Hold” and a consensus target price of $8.50.

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.