Barclays PLC, a multinational investment bank and financial services company, has increased its stake in LegalZoom.com, Inc. By 81.1% in the first quarter of this year. This information was disclosed in a recent 13F filing the company filed with the Securities and Exchange Commission. After purchasing an additional 22,802 shares during the quarter, Barclays now owns a total of 50,935 shares of LegalZoom.com. According to the filing, that property was valued at $477,000 at the end of the most recent quarter.
LegalZoom.com, Inc. operates As an online platform providing legal and compliance solutions primarily within the United States. The company’s platform offers a range of products and services aimed at assisting individuals and companies with various legal needs. These include services such as business formations, creating estate planning documents, protecting intellectual property, completing specific forms and agreements, accessing independent attorneys’ advice, and connecting clients with tax preparation and bookkeeping experts.
With its easy-to-use online platform and comprehensive suite of services, LegalZoom.com has established itself as a leading player in the legal technology industry. By leveraging technology to provide affordable solutions to common legal requirements, the firm has capitalized on the growing demand for accessible legal services.
Barclays’ decision to increase its position on LegalZoom.com demonstrates their confidence in the company’s prospects for future growth. As one of the world’s largest financial institutions, Barclays is known for its astute investment strategies and comprehensive market analysis.
The move also highlights Barclays’ recognition of LegalZoom.com’s innovative approach to providing legal support services that cater to small businesses and individuals alike. By providing affordable solutions without compromising on quality or convenience, LegalZoom.com has managed to attract a wide client base.
Both companies will benefit from this strategic partnership. Barclays PLC could generate great returns on its investment if LegalZoom.com continues to thrive in its niche market. At the same time, LegalZoom.com can leverage Barclays’ resources and expertise to enhance its product offering and expand its market reach.
It is worth noting that this information is based on a 13F filing conducted by Barclays PLC in the first quarter of this year. Therefore it represents the situation at that specific time. Readers are advised to review the most recent financial reports and filings for the latest information regarding Barclays PLC and LegalZoom.com.
Overall, Barclays PLC’s increased position on LegalZoom.com reflects its positive view of the company’s future growth prospects. The move underscores both companies’ commitment to providing accessible and cost-effective legal solutions in a rapidly evolving digital landscape. And as technology continues to reshape various sectors, including law and finance, partnerships like this are likely to play an important role in defining industry leaders moving forward.
Updated on: 08/30/2023
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Conspiracy surrounds LegalZoom.com as big investors make moves
LegalZoom.com, one of the leading online legal service providers, has recently attracted the attention of several large investors who have made significant changes to their positions in the company. An influx of investment from these institutional investors and hedge funds has fueled interest and speculation about the future prospects of LegalZoom.com.
For example, Counterpoint Mutual Funds LLC purchased a new stake in LegalZoom.com during the first quarter for an estimated value of approximately $93,000. Another major investor, ProShare Advisors LLC, increased its stake in LegalZoom.com by 16.7% during the fourth quarter. They now own 12,344 shares of the company’s stock, valued at $96,000, after acquiring an additional 1,769 shares last quarter.
Similarly, Nisa Investment Advisors LLC saw its stake in LegalZoom.com increase significantly during the first quarter, rising by 201.3%. They now own 4,775 shares worth $45,000 after acquiring an additional 3,190 shares. Jump Financial LLC also increased its stake by 4.1% during the first quarter and now owns approximately 149,803 shares valued at $1,405,000.
In addition to the activities of these investors within LegalZoom.com’s stock market performance, there have been many analyst reports circulating about the company as well. Citigroup raised its price target on LegalZoom.com from $15.00 to $17.00 while Barclays raised its price target from $12.00 to $17.00 with an “overweight” rating on the stock. JMP Securities re-issued an “outperform in market” rating with a target price of $15.00 and Credit Suisse Group raised its price target from $14.00 to $17.00 with an “outperform” rating.
Financial highlights reveal that LegalZoom.com began trading on the NASDAQ with an opening price of $11.16 last Tuesday. The company’s stock has seen a range of $6.89 to $15.68 over the past year, indicating volatile investor sentiment.
With a market capitalization of approximately $2.14 billion, LegalZoom.com operates with a price-to-earnings ratio (P/E) of -279.00 and a beta of 1.01. The business is showing stability with a 50-day moving average of $13.00 and a 200-day moving average of $10.83.
Despite the hype surrounding the company, LegalZoom.com reported lower-than-expected earnings per share for the most recent quarter, missing analyst consensus estimates ($0.01). Its negative net margin of 1.47% raises concerns about profitability, although it maintains a positive return on equity of 0.80%. However, the company’s quarterly revenue came in at $168.85 million, beating analysts’ expectations.
Looking ahead, research analysts expect LegalZoom.com, Inc. to publish earnings per share of 0.11 for the current fiscal year based on recently released earnings data.
Given all of these factors – investments from major institutional investors and hedge funds, analyst reports, stock volatility, and financial performance – it’s clear that there is a lot of mystery surrounding LegalZoom.com and its potential for growth in the online legal services industry.
As always, investors should carefully consider all available information before making any investment decisions regarding LegalZoom.com or any other stock.