CS Disco (NYSE:LAW) Insider Sells 6,840 Shares

CS Disco, Inc. (NYSE:LAW) insider Susan Garcia sold 6,840 shares of CS Disco stock in a transaction on Monday, August 17th. The stock was sold at an average price of $4.18, for a total value of $28,591.20. Following the transaction, the insider directly owned 139,109 shares of the company’s stock, valued at approximately $581,475.62. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Price Performance

LAW traded down $0.04 during trading on Wednesday, reaching $4.38. 277,412 shares of the stock were exchanged, compared to its average volume of 345,653. The business’s 50 day moving average price is $3.91 and its two-hundred day moving average price is $3.98. The company has a market capitalization of $284.02 million, a price-to-earnings ratio of -6.94 and a beta of 1.90. CS Disco, Inc. has a 1 year low of $2.45 and a 1 year high of $9.11.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of CS Disco

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in CS Disco by 1.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 205,372 shares of the company’s stock worth $1,327,000 after purchasing an additional 2,045 shares during the period. PDT Partners LLC grew its stake in shares of CS Disco by 7.6% during the 2nd quarter. PDT Partners LLC now owns 33,795 shares of the company’s stock valued at $148,000 after buying an additional 2,388 shares during the period. Jane Street Group LLC grew its stake in shares of CS Disco by 5.9% during the 2nd quarter. Jane Street Group LLC now owns 47,260 shares of the company’s stock valued at $207,000 after buying an additional 2,632 shares during the period. Bank of America Corp DE increased its holdings in shares of CS Disco by 11.6% during the 1st quarter. Bank of America Corp DE now owns 26,015 shares of the company’s stock worth $99,000 after buying an additional 2,701 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of CS Disco by 18.3% during the 2nd quarter. Algert Global LLC now owns 28,120 shares of the company’s stock worth $106,000 after buying an additional 4,350 shares during the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

About CS Disco

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.