Summit Trail Advisors LLC Has $437,000 Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Summit Trail Advisors LLC cut its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 48.4% during the third quarter, HoldingsChannel.com reports. The firm owned 68,834 shares of the company’s stock after selling 64,478 shares during the quarter. Summit Trail Advisors LLC’s holdings in LegalZoom.com were worth $437,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LZ. Quarry LP raised its position in shares of LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the period. Nisa Investment Advisors LLC raised its position in shares of LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of LegalZoom.com in the 2nd quarter valued at approximately $71,000. Creative Planning acquired a new stake in shares of LegalZoom.com in the 3rd quarter valued at approximately $72,000. Finally, nVerses Capital LLC acquired a new stake in shares of LegalZoom.com in the 2nd quarter valued at approximately $114,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Up 0.4 %

Shares of LZ opened at $7.94 on Wednesday. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.74. The stock has a market capitalization of $1.37 billion, a P/E ratio of 61.08, a P/E/G ratio of 1.75 and a beta of 1.06. The company has a 50 day moving average of $7.14 and a 200-day moving average of $7.29.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target on shares of LegalZoom.com in a research report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup increased their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday. William Blair assumed coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company. Finally, Barclays increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.75.

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.