LegalZoom.com, Inc. (NASDAQ:LZ) Short Interest Up 39.4% in March

LegalZoom.com, Inc. (NASDAQ:LZ) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 5,380,000 shares, a growth of 39.4% from the February 28th total of 3,860,000 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LZ. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in LegalZoom.com during the 4th quarter valued at approximately $271,000. Mackenzie Financial Corp lifted its stake in LegalZoom.com by 164.0% in the fourth quarter. Mackenzie Financial Corp now owns 84,086 shares of the company’s stock valued at $631,000 after buying an additional 52,236 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of LegalZoom.com during the fourth quarter valued at $567,000. Two Sigma Advisers LP grew its position in shares of LegalZoom.com by 49.3% during the fourth quarter. Two Sigma Advisers LP now owns 430,000 shares of the company’s stock worth $3,229,000 after acquiring an additional 141,900 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of LegalZoom.com by 22.5% in the 4th quarter. Two Sigma Investments LP now owns 303,241 shares of the company’s stock worth $2,277,000 after acquiring an additional 55,652 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LZ has been the topic of several research reports. Barclays raised their price objective on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. UBS Group initiated 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 for the company. Morgan Stanley boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $9.19.

LegalZoom.com Stock Down 4.1 %

NASDAQ:LZ traded down $0.38 during trading hours on Friday, reaching $8.81. 1,581,693 shares of the stock were exchanged, compared to its average volume of 1,736,170. The stock has a market capitalization of $1.55 billion, a P/E ratio of 67.77, a P/E/G ratio of 1.73 and a beta of 1.09. The firm has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $8.06. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.56.

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.