Insider sales at this scale (~0.36% of market cap) are modest and not predictive of near-term downside per academic literature. The CFO/COO's sales are the largest but likely liquidity-driven (blackout window or vesting). Monitor next 10-Q for any fundamental deterioration, but this cluster alone does not warrant a bearish stance.
Price Chart
Executive Summary
Two C-suite insiders at LegalZoom (CFO/COO and Chief Legal Officer) sold a combined ~$672K in open-market sales over a 5-day window. The CFO/COO alone sold $2.95M in two tranches, making the total cluster $3.6M. At a $1.0B market cap, this is ~0.36% — a modest but notable insider sale cluster. The CFO/COO's sales are the dominant signal, but per the asymmetric calibration, insider sales are weak predictors and this cluster is likely liquidity-driven (blackout window opening or vesting). This filing is neutral — no material new information.
Key Financial Metrics
Key Facts
- CFO/COO Noel Bertram Watson sold 500,000 shares total ($2.95M) on Aug 20-21 at $5.83-$5.91
- Chief Legal Officer Nicole Miller sold 77,475 shares ($427K) on Aug 17-18 at $5.51
- Total cluster value ~$3.6M, representing ~0.36% of $1.0B market cap
- No open-market purchases in the cluster — all sales
Financial Impact
~$3.6M in insider sales over 5 days, ~0.36% of market cap
Risk Factors
- CFO/COO sold ~$2.95M in two days — if this is not a routine 10b5-1 plan, it could signal insider concern
- No insider buying to offset the selling — one-sided bearish signal
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-LZ-1787359349724 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Press Release | $6.60 | awaiting T+60 | — | $6.58 (−0.30%) |
Aug 21, 2026 9w ago | Insider Cluster | $6.00 | awaiting T+60 | — | $6.58 (+9.67%) |
Jul 15, 2026 14w ago | Press Release | $7.80 $5.93 | ▼ −24.04% | ▼ −26.57% | $6.58 (−15.64%) |
May 19, 2026 23w ago | Insider Cluster | $6.43 $5.62 | ▼ −12.60% | ▼ −17.60% | $6.58 (+2.33%) |
May 19, 2026 23w ago | 144 | $6.37 $5.80 | ▼ −8.95% | ▼ −15.24% | $6.58 (+3.30%) |
May 6, 2026 24w ago | Press Release | $6.07 $8.25 | ▲ +35.91% | ▲ +32.08% | $6.58 (+8.40%) |
Apr 22, 2026 26w ago | DEFA14A | $6.25 $7.70 | ▲ +23.20% | ▲ +18.18% | $6.58 (+5.28%) |
US Market Status
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