Eric Friedrichsen Sells 118,054 Shares of CS Disco, Inc. (NYSE:LAW) Stock

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen sold 118,054 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.93, for a total value of $463,952.22. Following the completion of the sale, the chief executive officer now directly owns 1,136,317 shares of the company’s stock, valued at approximately $4,465,725.81. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CS Disco Stock Up 2.0%

LAW opened at $3.95 on Friday. The stock has a market cap of $240.13 million, a P/E ratio of -4.29 and a beta of 2.05. CS Disco, Inc. has a 12 month low of $3.31 and a 12 month high of $6.64. The company has a fifty day simple moving average of $3.87 and a 200 day simple moving average of $4.80.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.03 million. CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. On average, equities research analysts expect that CS Disco, Inc. will post -0.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of CS Disco in a report on Thursday, May 8th.

Hedge Funds Weigh In On CS Disco

Institutional investors and hedge funds have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd bought a new position in CS Disco in the fourth quarter valued at approximately $43,000. R Squared Ltd acquired a new stake in shares of CS Disco during the fourth quarter worth $47,000. Virtu Financial LLC bought a new stake in CS Disco in the 4th quarter valued at $54,000. Meeder Asset Management Inc. lifted its position in CS Disco by 50.7% in the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock valued at $54,000 after acquiring an additional 3,650 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in CS Disco in the 4th quarter worth $55,000. 58.05% of the stock is currently owned by institutional investors and hedge funds.

About CS Disco

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.