Franklin Resources Inc. Purchases 132,189 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Franklin Resources Inc. increased its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 4.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,067,987 shares of the company’s stock after buying an additional 132,189 shares during the period. Franklin Resources Inc.’s holdings in LegalZoom.com were worth $20,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LZ. Coastal Bridge Advisors LLC grew its stake in LegalZoom.com by 10.2% during the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after purchasing an additional 184,696 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of LegalZoom.com during the third quarter valued at approximately $1,429,000. Renaissance Technologies LLC raised its position in shares of LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after purchasing an additional 521,200 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of LegalZoom.com by 97.2% in the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock worth $824,000 after purchasing an additional 63,980 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in LegalZoom.com in the 3rd quarter valued at $3,112,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Up 0.9 %

LZ opened at $7.75 on Friday. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $13.74. The company’s 50-day moving average price is $7.68 and its two-hundred day moving average price is $7.20. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 59.62, a PEG ratio of 1.90 and a beta of 1.10.

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

Wall Street Analyst Weigh In

LZ has been the subject of a number of analyst reports. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Barclays upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. UBS Group began coverage on LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 price objective on the stock. Citigroup increased their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, William Blair began coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, LegalZoom.com has an average rating of “Hold” and a consensus target price of $8.79.

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.