Franklin Resources Inc. Has $20.31 Million Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Franklin Resources Inc. lifted its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,067,987 shares of the company’s stock after purchasing an additional 132,189 shares during the quarter. Franklin Resources Inc. owned about 1.78% of LegalZoom.com worth $20,310,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its position in LegalZoom.com by 308.5% in the 3rd quarter. Barclays PLC now owns 224,782 shares of the company’s stock valued at $1,427,000 after buying an additional 169,761 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in LegalZoom.com by 37.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock valued at $1,081,000 after purchasing an additional 45,941 shares in the last quarter. XTX Topco Ltd acquired a new stake in LegalZoom.com in the 3rd quarter valued at $143,000. Wexford Capital LP bought a new stake in LegalZoom.com during the 3rd quarter worth about $64,000. Finally, Tabor Asset Management LP boosted its stake in shares of LegalZoom.com by 44.9% during the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after buying an additional 472,002 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 research analysts have weighed in on LZ shares. William Blair assumed coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. UBS Group assumed coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective on the stock. Finally, Barclays raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.79.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock opened at $7.75 on Friday. The company’s 50 day moving average price is $7.68 and its two-hundred day moving average price is $7.20. The firm has a market capitalization of $1.34 billion, a P/E ratio of 59.62, a P/E/G ratio of 1.90 and a beta of 1.10. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74.

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

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.