CS Disco (NYSE:LAW) EVP Sells 8,514 Shares

CS Disco, Inc. (NYSE:LAW) EVP Melanie Antoon sold 8,514 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $4.18, for a total value of $35,588.52. Following the completion of the transaction, the executive vice president owned 267,507 shares in the company, valued at $1,118,179.26. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Stock Performance

CS Disco stock traded down $0.04 during trading hours on Wednesday, reaching $4.38. 277,412 shares of the company’s stock traded hands, compared to its average volume of 345,653. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The firm’s 50 day moving average is $3.91 and its 200-day moving average is $3.98. The firm has a market capitalization of $284.02 million, a price-to-earnings ratio of -6.94 and a beta of 1.90.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $43.15 million for the quarter, compared to analyst estimates of $43.10 million. CS Disco had a negative net margin of 24.20% and a negative return on equity of 26.58%.

Institutional Trading of CS Disco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAW. Cubist Systematic Strategies LLC acquired a new position in CS Disco in the first quarter valued at $216,000. Jane Street Group LLC increased its stake in CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after purchasing an additional 15,187 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CS Disco during the 1st quarter worth about $195,000. XTX Topco Ltd acquired a new stake in shares of CS Disco in the 2nd quarter valued at about $139,000. Finally, Occudo Quantitative Strategies LP bought a new stake in CS Disco in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CS Disco presently has an average rating of “Hold” and a consensus price target of $8.00.

CS Disco Company Profile

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.