PDT Partners LLC Reduces Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

PDT Partners LLC reduced its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 43.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,603 shares of the company’s stock after selling 136,771 shares during the period. PDT Partners LLC’s holdings in LegalZoom.com were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Quarry LP lifted its position in shares of LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in LegalZoom.com by 179.8% during the third 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 shares of LegalZoom.com in the second quarter worth approximately $71,000. Creative Planning purchased a new stake in shares of LegalZoom.com in the third quarter worth $72,000. Finally, nVerses Capital LLC bought a new stake in shares of LegalZoom.com during the 2nd quarter valued at $114,000. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $7.93 on Monday. The stock has a 50 day moving average price of $7.24 and a 200-day moving average price of $7.25. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $13.74. The company has a market capitalization of $1.37 billion, a P/E ratio of 61.00, a P/E/G ratio of 1.78 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. During the same period in the prior year, the company earned $0.05 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LZ has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a 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 report on Tuesday, November 26th. Barclays upped their price target 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. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, William Blair began coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.75.

About LegalZoom.com

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.