Franklin Resources Inc. Has $23.24 Million Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Franklin Resources Inc. increased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,094,594 shares of the company’s stock after buying an additional 26,607 shares during the quarter. Franklin Resources Inc. owned 1.79% of LegalZoom.com worth $23,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZ. Barclays PLC increased its holdings in shares of LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock worth $1,427,000 after acquiring an additional 169,761 shares in the last quarter. Pathway Capital Management LP bought a new stake in LegalZoom.com during the 4th quarter worth approximately $2,387,000. JPMorgan Chase & Co. raised its holdings in LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock worth $3,605,000 after buying an additional 71,291 shares during the period. Oak Harvest Investment Services bought a new position in LegalZoom.com in the fourth quarter valued at approximately $751,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company’s stock valued at $4,096,000 after buying an additional 55,336 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on LZ. Barclays raised their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, LegalZoom.com presently has an average rating of “Hold” and an average target price of $9.19.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $7.84 on Monday. The stock has a 50 day moving average price of $9.20 and a 200 day moving average price of $8.13. The stock has a market capitalization of $1.38 billion, a PE ratio of 60.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.36.

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.