Franklin Advisers, Inc. recently announced the acquisition of new stake in LegalZoom.com Inc. (NASDAQ:LZ). The institutional investor has increased its shareholding in the Industrials company by 0.27% to 2.68 million shares with purchase of 7270.0 shares. This fresh investment now brings its stake to 1.41% valued currently at $25.15 million. In addition, Millennium Management LLC raised its holdings by 2.34 million to 2.66 million shares.
With over 2.03 million LegalZoom.com Inc. (LZ) shares trading Tuesday and a closing price of $10.71 on the day, the dollar volume was approximately $21.75 million. The shares have shown a positive half year performance of 19.00% and its price on 05/23/23 lost nearly -0.37%. Currently, there are 191.29M common shares owned by the public and among those 142.69M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for LZ have a consensus price objective of $11.94. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $7.50. The average price target is 8.38% above its recent price level and a downside to the estimated low will see the stock lose -42.8% over that period. But an upside of 28.6% will see the stock hit the forecast high price target while median target price for the stock is $12.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 8,220,366 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 11,152,148 shares.
The top 3 mutual fund holders in LegalZoom.com Inc. are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Franklin Small Cap Growth Fund. Vanguard Total Stock Market ETF owns 2.95 million shares of the company’s stock, all valued at over $27.7 million. The company bought an additional 20783.0 shares recently to bring their total holdings to about 1.55% of the shares outstanding. Vanguard Small Cap Index Fund sold 4852.0 shares to see its total holdings shrink to 2.51 million shares valued at over $23.58 million and representing 1.32% of the shares outstanding. Franklin Small Cap Growth Fund now owns shares totaling to 1.30% of the shares outstanding.
Shares of LegalZoom.com Inc. (NASDAQ: LZ) opened at $10.68, down -$0.07 from a prior closing price of $10.75. However, the script later moved the day high at 11.03, down -0.37%. The company’s stock has a 5-day price change of 0.09% and 29.04% over the past three months. LZ shares are trading 38.37% year to date (YTD), with the 12-month market performance down to -5.47% lower. It has a 12-month low price of $6.89 and touched a high of $14.62 over the same period. LZ has an average intraday trading volume of 1.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.86%, 15.09%, and 17.82% respectively.
Institutional ownership of LegalZoom.com Inc. (NASDAQ: LZ) shares accounts for 65.40% of the company’s 191.29M shares outstanding. Mutual fund holders own 13.50%, while other institutional holders and individual stakeholders account for 20.88% and 1.79% respectively.
It has a market capitalization of $2.16B. The earnings-per-share (ttm) stands at -$0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.28% over the week and 6.82% over the month.
Analysts forecast that LegalZoom.com Inc. (LZ) will achieve an EPS of $0.1 for the current quarter, $0.09 for the next quarter and $0.48 for 2024. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 63.00%, and 29.97% over the next financial year. EPS should grow at an annualized rate of 41.43% over the next five years, compared to 9.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate LegalZoom.com Inc. (LZ) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 1 rated it as a “Sell.”
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