LegalZoom.com, Inc. (NASDAQ:LZ) Short Interest Up 39.4% in March

LegalZoom.com, Inc. (NASDAQ:LZ) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,380,000 shares, an increase of 39.4% from the February 28th total of 3,860,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of LegalZoom.com

A number of hedge funds and other institutional investors have recently modified their holdings of LZ. Mariner LLC grew its stake in LegalZoom.com by 5.6% in the fourth quarter. Mariner LLC now owns 44,638 shares of the company’s stock valued at $335,000 after purchasing an additional 2,348 shares in the last quarter. State of Wyoming increased its holdings in LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after buying an additional 2,475 shares during the last quarter. Quarry LP raised its position in LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after acquiring an additional 3,732 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in LegalZoom.com by 6.8% in the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock valued at $552,000 after acquiring an additional 4,697 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of LegalZoom.com by 8.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company’s stock valued at $490,000 after acquiring an additional 5,045 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LZ. UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price objective on the stock. Morgan Stanley raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. William Blair restated a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Finally, Barclays upped their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, LegalZoom.com currently has an average rating of “Hold” and an average target price of $9.19.

LegalZoom.com Stock Performance

LegalZoom.com stock traded up $0.11 during mid-day trading on Tuesday, reaching $8.72. The company’s stock had a trading volume of 1,674,947 shares, compared to its average volume of 1,738,527. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.56. The business’s 50 day simple moving average is $9.21 and its 200 day simple moving average is $8.09. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 67.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09.

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.