225,000 Shares in LegalZoom.com, Inc. (NASDAQ:LZ) Acquired by Mainstream Capital Management LLC

Mainstream Capital Management LLC purchased a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 225,000 shares of the company’s stock, valued at approximately $1,429,000. LegalZoom.com accounts for 1.2% of Mainstream Capital Management LLC’s portfolio, making the stock its 26th largest holding. Mainstream Capital Management LLC owned about 0.13% of LegalZoom.com as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LZ. Quarry LP raised its stake in shares of LegalZoom.com by 318.9% in the second 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 last quarter. Nisa Investment Advisors LLC increased its holdings in LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares in the last quarter. Point72 DIFC Ltd bought a new position in LegalZoom.com in the 2nd quarter valued at $71,000. Creative Planning acquired a new position in LegalZoom.com in the third quarter worth $72,000. Finally, nVerses Capital LLC grew its holdings in shares of LegalZoom.com by 16.2% during the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after purchasing an additional 2,200 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday, July 31st. Finally, William Blair started coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.79.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $9.22 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of 71.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.06. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The company’s 50 day moving average price is $6.75 and its two-hundred day moving average price is $7.65.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $177.36 million during the quarter, compared to the consensus estimate of $172.92 million. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. LegalZoom.com’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. Analysts forecast that LegalZoom.com, Inc. will post 0.23 earnings per share for the current year.

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.