Mainstream Capital Management LLC Makes New $1.43 Million Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Mainstream Capital Management LLC purchased a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 225,000 shares of the company’s stock, valued at approximately $1,429,000. LegalZoom.com makes up approximately 1.2% of Mainstream Capital Management LLC’s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blair William & Co. IL raised its position in LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after purchasing an additional 195,512 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in LegalZoom.com by 148.3% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 70,797 shares of the company’s stock valued at $944,000 after buying an additional 42,288 shares during the last quarter. Coastal Bridge Advisors LLC boosted its position in LegalZoom.com by 10.2% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after buying an additional 184,696 shares during the period. Swiss National Bank grew its holdings in LegalZoom.com by 15.7% during the 1st quarter. Swiss National Bank now owns 241,200 shares of the company’s stock worth $3,218,000 after acquiring an additional 32,700 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after acquiring an additional 521,200 shares during the period. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $9.22 on Friday. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The stock has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $7.65. The company has a market cap of $1.62 billion, a P/E ratio of 71.08, a PEG ratio of 2.22 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company 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%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. On average, research analysts predict that LegalZoom.com, Inc. will post 0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LZ. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, July 31st. William Blair assumed coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, LegalZoom.com presently has an average rating of “Hold” and an average price target of $9.79.

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.