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

LegalZoom.com, Inc. (NASDAQ:LZ) was the recipient of a significant increase in short interest in 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. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 4.7% of the shares of the company are short sold.

LegalZoom.com Stock Performance

LZ stock traded down $0.38 on Friday, reaching $8.81. The company had a trading volume of 1,581,693 shares, compared to its average volume of 1,736,170. The company’s fifty day moving average is $9.19 and its 200 day moving average is $8.06. The company has a market cap 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 has a 1 year low of $5.33 and a 1 year high of $13.56.

Institutional Trading of LegalZoom.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP grew its stake in LegalZoom.com by 83.4% in the 3rd quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after acquiring an additional 3,732 shares during the period. State of Wyoming grew its position in shares of LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares during the period. Wexford Capital LP acquired a new position in LegalZoom.com in the third quarter valued at $64,000. Aigen Investment Management LP purchased a new position in shares of LegalZoom.com during the 4th quarter worth about $76,000. Finally, Olympiad Research LP purchased a new position in LegalZoom.com during the fourth quarter worth approximately $78,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

LZ has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Morgan Stanley boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Finally, William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average target price of $9.19.

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.