LEGALZOOM.COM, INC.
LZ · Services-Computer Processing & Data Preparation · 171.6M shares · +11%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$11M (gross $55M, SBC $66M)
Reference price $6.58 · est. market cap ~$1.1B — last insider sale, 2026-05-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62Online legal-services platform with thin operating margins but strong FCF, tied to business-formation volumes.
Strengths
- Strong FCF — $147.9M, FCF margin 19.6%, OCF margin 23.6%
- Growth — revenue +10.9%
Risks
- Thin operating margin — 3.3% (35th), net margin 2.0%
- Business-formation dependence per risk factors — per 10-K
- Thin liquidity — current ratio 0.76 (25th)
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Weak liquidityCurrent ratio 0.76 (<1)
- Customer concentration~65% of revenue from one customer/distributor — For the year ended December 31, 2025, approximately 65% of our revenue was derived from subscriptions
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Chronic dilutionShare count +11%/yr over 4y (dilution, book value/share -42%)
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$768,988, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $203M cash & investments
- Insider sellingInsider selling — 4 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$482,163, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
65.9%
Operating margin
3.3%
Net margin
2.0%
Return on equity
9.0%
Return on assets
3.0%
Revenue growth (QoQ)
8.7%
Net-income growth
-48.5%
Current ratio
0.8×
Free cash flow
$148M
EBITDA
$61M
Tangible book value
$13M
Cash & investments
$203M
Stock comp / revenue
15.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Hamren Elizabeth | Grant | 36K | — |
| 2026-06-03 | Whiteley Sivan | Grant | 36K | — |
| 2026-06-03 | Murphy John Francis | Grant | 36K | — |
| 2026-06-03 | Gooden Nathan | Grant | 36K | — |
| 2026-05-19 | Miller Nicole | Sell | 19K | $6.58 |
| 2026-05-18 | Watson Noel Bertram | Sell | 15K | $6.45 |
| 2026-05-15 | Thomas Charles C. | Tax withheld | 3.8K | $6.00 |
| 2026-05-15 | Watson Noel Bertram | Tax withheld | 83K | $6.00 |
| 2026-05-15 | Miller Nicole | Tax withheld | 47K | $6.00 |
| 2026-05-15 | Stibel Jeffrey M | Tax withheld | 110K | $6.00 |
| 2026-05-11 | Stibel Jeffrey M | Buy | 125K | $6.15 |
| 2026-03-07 | Miller Nicole | Grant | 372K | — |
| 2026-03-07 | Thomas Charles C. | Grant | 40K | — |
| 2026-03-07 | Watson Noel Bertram | Grant | 656K | — |
| 2026-03-07 | Stibel Jeffrey M | Grant | 623K | — |
| 2026-02-26 | Miller Nicole | Sell | 23K | $6.63 |
| 2026-02-18 | Watson Noel Bertram | Sell | 15K | $6.96 |
| 2026-02-15 | Miller Nicole | Tax withheld | 32K | $6.87 |
| 2026-02-15 | Thomas Charles C. | Tax withheld | 13K | $6.87 |
| 2026-02-15 | Watson Noel Bertram | Tax withheld | 56K | $6.87 |
| 2026-02-15 | Stibel Jeffrey M | Tax withheld | 78K | $6.87 |
| 2026-01-15 | Gooden Nathan | Grant | 6.7K | $10.12 |
| 2026-01-15 | Murphy John Francis | Grant | 8.3K | $10.12 |
| 2025-11-18 | Miller Nicole | Sell | 24K | $9.63 |
| 2025-11-18 | Watson Noel Bertram | Sell | 15K | $9.56 |
| 2025-11-15 | Watson Noel Bertram | Tax withheld | 319K | $10.01 |
| 2025-11-15 | Miller Nicole | Tax withheld | 204K | $10.01 |
| 2025-11-15 | Stibel Jeffrey M | Tax withheld | 656K | $10.01 |
| 2025-09-17 | Miller Nicole | Option exercise | 136K | — |
| 2025-09-17 | Watson Noel Bertram | Grant | 208K | — |
| 2025-09-17 | Stibel Jeffrey M | Option exercise | 456K | — |
| 2025-08-25 | Watson Noel Bertram | Sell | 27K | $11.07 |
| 2025-08-22 | Watson Noel Bertram | Sell | 18K | $11.03 |
| 2025-08-19 | Miller Nicole | Sell | 25K | $10.82 |
| 2025-08-18 | Watson Noel Bertram | Sell | 15K | $10.81 |
| 2025-08-15 | Watson Noel Bertram | Tax withheld | 56K | $10.72 |
| 2025-08-15 | Stibel Jeffrey M | Tax withheld | 77K | $10.72 |
| 2025-08-15 | Miller Nicole | Tax withheld | 33K | $10.72 |
| 2025-08-12 | Murphy John Francis | Sell | 24K | $10.57 |
| 2025-07-09 | Watson Noel Bertram | Tax withheld | 49K | $8.97 |
| 2025-07-09 | Miller Nicole | Tax withheld | 49K | $8.97 |
| 2025-06-03 | Hamren Elizabeth | Grant | 23K | — |
| 2025-06-03 | Murphy John Francis | Grant | 23K | — |
| 2025-06-03 | Whiteley Sivan | Grant | 23K | — |
| 2025-06-03 | Gooden Nathan | Grant | 23K | — |
| 2025-05-15 | Miller Nicole | Tax withheld | 33K | $9.20 |
| 2025-05-15 | Watson Noel Bertram | Tax withheld | 56K | $9.20 |
| 2025-05-15 | Stibel Jeffrey M | Tax withheld | 77K | $9.20 |
| 2025-03-06 | Thomas Charles C. | Grant | 129K | — |
| 2025-02-23 | Stibel Jeffrey M | Option exercise | 684K | — |
| 2025-02-23 | Watson Noel Bertram | Option exercise | 312K | — |
| 2025-02-23 | Miller Nicole | Option exercise | 204K | — |
| 2025-02-15 | Miller Nicole | Tax withheld | 14K | $9.18 |
| 2025-02-15 | Stibel Jeffrey M | Tax withheld | 17K | $9.18 |
| 2025-02-15 | Watson Noel Bertram | Tax withheld | 26K | $9.18 |
| 2025-02-06 | Miller Nicole | Grant | 167K | — |
| 2025-02-06 | Miller Nicole | Tax withheld | 29K | $9.23 |
| 2025-02-06 | Watson Noel Bertram | Grant | 300K | — |
| 2025-02-06 | Watson Noel Bertram | Tax withheld | 51K | $9.23 |
| 2025-02-06 | Stibel Jeffrey M | Grant | 822K | — |
| 2025-02-06 | Stibel Jeffrey M | Tax withheld | 140K | $9.23 |
| 2025-01-15 | Murphy John Francis | Grant | 9.8K | $7.82 |
| 2025-01-15 | Gooden Nathan | Grant | 6.7K | $7.82 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-04 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsReg FD | filing ↗ |
| 2026-02-19 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-11-05 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-07 | ResultsReg FDExhibits | filing ↗ |
| 2025-07-17 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-06-05 | Shareholder vote | filing ↗ |
| 2025-05-07 | ResultsReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-03 | 0001286139-26-000024 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001286139-26-000022 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001286139-26-000020 ↗ |
| 10-K | 2026-02-23 | 2025-12-31 | 0001286139-26-000012 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0001286139-26-000007 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001286139-25-000101 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001286139-25-000103 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001286139-25-000087 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001286139-25-000085 ↗ |
| 8-K | 2025-07-17 | 2025-07-14 | 0001628280-25-035220 ↗ |
| 8-K | 2025-06-05 | 2025-06-03 | 0001286139-25-000076 ↗ |
| 10-Q | 2025-05-08 | 2025-03-31 | 0001286139-25-000059 ↗ |