First Eagle Investment Management LLC Acquires New Position in CS Disco, Inc. $LAW

First Eagle Investment Management LLC bought a new position in CS Disco, Inc. (NYSE:LAW) in the third quarter, Holdings Channel reports. The institutional investor bought 163,846 shares of the company’s stock, valued at approximately $1,058,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Topline Capital Management LLC lifted its holdings in shares of CS Disco by 66.2% in 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 during the last quarter. Norges Bank purchased a new position in CS Disco in the 2nd quarter worth $2,863,000. Essex Investment Management Co. LLC bought a new stake in CS Disco in the third quarter worth $2,868,000. Bridgeway Capital Management LLC boosted its position in CS Disco by 50.3% during the second quarter. Bridgeway Capital Management LLC now owns 243,652 shares of the company’s stock valued at $1,065,000 after buying an additional 81,500 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in CS Disco during the second quarter valued at about $324,000. 58.05% of the stock is currently owned by institutional investors.

CS Disco Stock Performance

NYSE LAW opened at $4.67 on Friday. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The stock has a market cap of $295.75 million, a P/E ratio of -6.49 and a beta of 2.15. The stock has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $6.21.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LAW shares. Wall Street Zen downgraded CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Canaccord Genuity Group lowered their price objective on CS Disco from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, January 21st. Finally, Jefferies Financial Group upped their price target on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CS Disco presently has a consensus rating of “Hold” and an average target price of $8.00.

Insiders Place Their Bets

In related news, Director Krishna Srinivasan acquired 40,000 shares of CS Disco stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $3.25 per share, with a total value of $130,000.00. Following the transaction, the director owned 45,000 shares in the company, valued at $146,250. This trade represents a 800.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Goodman acquired 1,026,700 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was bought at an average price of $3.19 per share, with a total value of $3,275,173.00. Following the completion of the acquisition, the director directly owned 1,038,475 shares in the company, valued at approximately $3,312,735.25. This represents a 8,719.32% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 1,090,200 shares of company stock valued at $3,475,943 and have sold 27,711 shares valued at $85,073. 16.10% of the stock is currently owned by insiders.

CS Disco 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.