Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. LegalZoom.com Inc. shares valued at $182,637 were sold by Preece Richard on Aug 17. At $11.46 per share, Preece Richard sold 15,930 shares. The insider’s holdings dropped to 344,465 shares worth approximately $2.85 million following the completion of this transaction.
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Also, Watson Noel Bertram sold 23,643 shares, netting a total of over 271,067 in proceeds. Following the sale of shares at $11.46 each, the insider now holds 496,188 shares.
Before that, Miller Nicole had sold 12,632 shares from its account. In a trade valued at $144,826, the General Counsel traded LegalZoom.com Inc. shares for $11.46 each. Upon closing the transaction, the insider’s holdings decreased to 12,632 shares, worth approximately $1.77 million.
As published in their initiating research note from MoffettNathanson on September 22, 2022, LegalZoom.com Inc. [LZ] has been an Underperform and the price target has been revised to $11. This represents a 24.91% premium over Thursday’s closing price. Analysts at JMP Securities downgraded the stock from ‘”a Mkt outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early September. As of July 28, 2022, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for LZ. Earlier on April 20, 2022, Citigroup upgraded its rating. Their new recommendation was “a Buy” for LZ stock which previously was a “a Neutral”.
Analyzing LZ’s Price Performance
On Thursday, LegalZoom.com Inc. [NASDAQ: LZ] plunged -8.58% to $8.26. The stock’s lowest price that day was $8.071, but it reached a high of $9.16 in the same session. During the last five days, there has been a drop of approximately -19.26%. Over the course of the year, LegalZoom.com Inc. shares have dropped approximately -48.60%. Shares of the company reached a 52-week high of $17.36 on 02/10/22 and a 52-week low of $8.07 on 09/22/22. A 50-day SMA is recorded $10.50, while a 200-day SMA reached $13.27. Nevertheless, trading volume fell to 2.71 million shares from 2.55 million shares the previous day.
Support And Resistance Levels for LegalZoom.com Inc. (LZ)
According to the 24-hour chart, there is a support level at 7.83, which, if violated, would cause prices to drop to 7.41. In the upper region, resistance lies at 8.92. The next price resistance is at 9.59. RSI (Relative Strength Index) is 29.46 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.20, which suggests the price will decrease in the coming days. Percent R is at 94.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is LegalZoom.com Inc. subject to short interest?
Stocks of LegalZoom.com Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.32 million shares to 9.82 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.14 million shares. A decline of -13.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.38 of the overall float, the days-to-cover ratio (short ratio) decline to 4.38.
Which companies own the most shares of LegalZoom.com Inc. (LZ)?
According to GPI Capital LP filings, the company currently owns 9,541,916 shares, which is about 4.90% of the total LZ shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $85,904,637. T. Rowe Price Associates, Inc. reduced a -7.84% interest valued at $85.32 million while Wasatch Advisors, Inc. 6,018,029 stake. In its current portfolio, BlackRock Fund Advisors holds 4,314,007 shares valued at $44.43 million.
In terms of LegalZoom.com Inc. share price expectations, FactSet research, analysts set an average price target of $13.63 in the next 12 months, up nearly 55.04% from the previous closing price of $9.03. Analysts anticipate LegalZoom.com Inc. stock to reach $19.00 by 2022, with the lowest price target being $7.00. In spite of this, 11 analysts ranked LegalZoom.com Inc. stock as a Hold at the end of 2022.