Pathway Capital Management LP Acquires New Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Pathway Capital Management LP acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, Holdings Channel reports. The firm acquired 317,862 shares of the company’s stock, valued at approximately $2,387,000. LegalZoom.com accounts for approximately 2.4% of Pathway Capital Management LP’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of LegalZoom.com by 4.5% in the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after purchasing an additional 132,189 shares in the last quarter. Tabor Asset Management LP grew its holdings in shares of LegalZoom.com by 44.9% in the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after purchasing an additional 472,002 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of LegalZoom.com by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock valued at $7,606,000 after purchasing an additional 32,085 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of LegalZoom.com by 14.4% in the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after purchasing an additional 71,291 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of LegalZoom.com in the third quarter valued at approximately $3,112,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LZ. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday. UBS Group initiated coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price target for the company. Morgan Stanley boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Finally, Citigroup boosted their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.19.

LegalZoom.com Trading Up 1.4 %

Shares of LegalZoom.com stock opened at $10.16 on Friday. The company has a fifty day simple moving average of $8.53 and a 200-day simple moving average of $7.61. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.74. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 78.16, a PEG ratio of 1.73 and a beta of 1.13.

LegalZoom.com Company 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.