CS Disco, Inc. (NYSE:LAW) Sees Significant Increase in Short Interest

CS Disco, Inc. (NYSE:LAW) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 1,051,263 shares, a growth of 25.0% from the February 12th total of 841,219 shares. Based on an average daily trading volume, of 847,249 shares, the short-interest ratio is presently 1.2 days. Approximately 2.0% of the shares of the company are short sold. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 847,249 shares, the short-interest ratio is presently 1.2 days.

CS Disco Stock Performance

CS Disco stock traded up $0.07 during midday trading on Tuesday, reaching $4.53. 39,988 shares of the stock were exchanged, compared to its average volume of 431,646. CS Disco has a 52 week low of $2.45 and a 52 week high of $9.11. The firm has a market cap of $286.88 million, a PE ratio of -6.29 and a beta of 2.16. The company’s fifty day moving average is $5.05 and its 200-day moving average is $6.20.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LAW shares. Wall Street Zen lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Jefferies Financial Group raised their target price on CS Disco from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Monday, January 5th. Canaccord Genuity Group cut their price target on CS Disco from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a research report on Wednesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Two 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. Based on data from MarketBeat, CS Disco has an average rating of “Hold” and a consensus price target of $8.00.

Insider Transactions at CS Disco

In other CS Disco news, Director Robert P. Goodman bought 1,026,700 shares of CS Disco stock in a transaction dated Friday, February 27th. The stock was bought at an average cost 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. The trade was a 8,719.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric Friedrichsen purchased 15,500 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average price of $2.90 per share, for a total transaction of $44,950.00. Following the completion of the acquisition, the chief executive officer directly owned 1,508,172 shares of the company’s stock, valued at $4,373,698.80. This trade represents a 1.04% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 1,090,200 shares of company stock worth $3,475,943 and have sold 27,711 shares worth $85,073. 16.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CS Disco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Topline Capital Management LLC raised 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 valued at $12,958,000 after acquiring an additional 1,181,046 shares in the last quarter. Norges Bank bought a new position in shares of CS Disco in the second quarter worth approximately $2,863,000. Essex Investment Management Co. LLC purchased a new stake in CS Disco in the third quarter valued at approximately $2,868,000. Nuveen LLC lifted its position in CS Disco by 187.2% during the fourth quarter. Nuveen LLC now owns 318,672 shares of the company’s stock valued at $2,473,000 after purchasing an additional 207,700 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in CS Disco by 100.6% in the 4th quarter. First Eagle Investment Management LLC now owns 328,719 shares of the company’s stock worth $2,551,000 after buying an additional 164,873 shares in the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

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.