Short Interest in LegalZoom.com, Inc. (NASDAQ:LZ) Increases By 39.4%

LegalZoom.com, Inc. (NASDAQ:LZ) saw a significant increase in short interest during the month of 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 company are sold short. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 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 worth $152,241,000 after acquiring an additional 2,574,700 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of LegalZoom.com by 7.6% during the 4th quarter. Renaissance Technologies LLC now owns 3,525,142 shares of the company’s stock worth $26,474,000 after purchasing an additional 250,409 shares in the last quarter. Ararat Capital Management LP increased its position in shares of LegalZoom.com by 26.6% during the 4th 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 in the last quarter. Franklin Resources Inc. boosted its position in LegalZoom.com by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company’s stock valued at $23,240,000 after buying an additional 26,607 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in LegalZoom.com by 30.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company’s stock worth $15,173,000 after buying an additional 471,338 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Up 1.3 %

NASDAQ:LZ traded up $0.11 during mid-day trading on Tuesday, hitting $8.72. The company’s stock had a trading volume of 1,674,947 shares, compared to its average volume of 1,738,527. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 67.08, a P/E/G ratio of 1.73 and a beta of 1.09. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.56. The stock has a fifty day moving average of $9.21 and a 200-day moving average of $8.09.

Analyst Upgrades and Downgrades

LZ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. UBS Group assumed coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 target price for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Morgan Stanley upped their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Finally, William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.19.

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.