Cornercap Investment Counsel Inc. Invests $541,000 in LegalZoom.com, Inc. (NASDAQ:LZ)

Cornercap Investment Counsel Inc. bought a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 72,095 shares of the company’s stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also modified their holdings of LZ. Norges Bank bought a new stake in LegalZoom.com during the 4th quarter worth approximately $5,769,000. JPMorgan Chase & Co. boosted its holdings in LegalZoom.com by 103.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock worth $8,662,000 after buying an additional 585,734 shares during the period. Lexington Partners L.P. purchased a new stake in LegalZoom.com in the 4th quarter worth $103,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,574,700 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of LegalZoom.com in the fourth quarter valued at about $161,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays lifted their target price 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. UBS Group started coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price for the company. Morgan Stanley lifted 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 shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.19.

LegalZoom.com Trading Down 4.1 %

Shares of NASDAQ:LZ opened at $8.81 on Friday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 67.77, a PEG ratio of 1.73 and a beta of 1.09. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month 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.

LegalZoom.com 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.