LegalZoom.com, Inc. (NASDAQ:LZ) Short Interest Update

LegalZoom.com, Inc. (NASDAQ:LZ) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,400,000 shares, a growth of 19.0% from the March 15th total of 5,380,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.6% of the company’s stock are sold short.

LegalZoom.com Price Performance

LZ opened at $6.77 on Wednesday. The stock has a market capitalization of $1.19 billion, a PE ratio of 52.08, a P/E/G ratio of 1.73 and a beta of 1.13. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $12.55. The firm’s fifty day moving average price is $8.66 and its 200 day moving average price is $8.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, April 11th. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of LegalZoom.com from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Barclays upped their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.06.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in LegalZoom.com by 14.5% during the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after buying an additional 2,574,700 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of LegalZoom.com by 297.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock valued at $8,799,000 after acquiring an additional 877,125 shares during the last quarter. Norges Bank acquired a new stake in shares of LegalZoom.com during the 4th quarter valued at approximately $5,769,000. Ararat Capital Management LP lifted its stake in LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after purchasing an additional 682,678 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in LegalZoom.com by 103.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock worth $8,662,000 after purchasing an additional 585,734 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.