Cornercap Investment Counsel Inc. Buys Shares of 72,095 LegalZoom.com, Inc. (NASDAQ:LZ)

Cornercap Investment Counsel Inc. purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 72,095 shares of the company’s stock, valued at approximately $541,000.

Several other hedge funds also recently bought and sold shares of LZ. Vanguard Group Inc. raised its position in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after purchasing an additional 2,574,700 shares in the last quarter. Norges Bank bought a new stake in shares of LegalZoom.com in the fourth quarter valued at about $5,769,000. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 585,734 shares during the period. Tabor Asset Management LP grew its holdings in LegalZoom.com by 44.9% during the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after acquiring an additional 472,002 shares in the last quarter. Finally, Kazazian Asset Management LLC bought a new stake in shares of LegalZoom.com in the 4th quarter valued at about $3,375,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

LZ has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. UBS Group assumed coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Finally, Barclays raised their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.19.

LegalZoom.com Stock Down 4.1 %

Shares of LegalZoom.com stock opened at $8.81 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 67.77, a PEG ratio of 1.73 and a beta of 1.09. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.56. The company has a 50 day moving average price of $9.19 and a 200 day moving average price of $8.05.

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.