CS Disco (NYSE:LAW) EVP Karen Herckis Sells 8,487 Shares

CS Disco, Inc. (NYSE:LAW) EVP Karen Herckis sold 8,487 shares of CS Disco stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $4.18, for a total value of $35,475.66. Following the transaction, the executive vice president directly owned 181,824 shares in the company, valued at approximately $760,024.32. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Stock Down 1.0%

LAW opened at $4.38 on Thursday. The company has a market cap of $284.02 million, a PE ratio of -6.94 and a beta of 1.90. CS Disco, Inc. has a 52 week low of $2.45 and a 52 week high of $9.11. The business has a 50 day moving average price of $3.92 and a two-hundred day moving average price of $3.96.

CS Disco (NYSE:LAW) last released its earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $43.10 million.

Institutional Trading of CS Disco

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of CS Disco during the second quarter worth about $7,617,000. Topline Capital Management LLC lifted its position in CS Disco by 66.2% during the 2nd quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company’s stock worth $12,958,000 after acquiring an additional 1,181,046 shares in the last quarter. Lakewood Capital Management LP purchased a new position in CS Disco in the 2nd quarter worth approximately $4,183,000. Formula Growth Ltd. acquired a new stake in CS Disco in the second quarter valued at approximately $3,024,000. Finally, Norges Bank purchased a new stake in shares of CS Disco during the fourth quarter valued at approximately $4,252,000. 58.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen cut CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

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.