CS Disco, Inc. (NYSE:LAW) Short Interest Update

CS Disco, Inc. (NYSE:LAW) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,400,344 shares, a growth of 33.2% from the February 26th total of 1,051,263 shares. Based on an average daily volume of 552,360 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LAW shares. Weiss Ratings reissued a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Wall Street Zen lowered CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Canaccord Genuity Group reduced their target price on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Finally, Jefferies Financial Group lifted their price target on CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a report on Monday, January 5th. 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, CS Disco presently has a consensus rating of “Hold” and an average target price of $8.00.

Insider Buying and Selling

In other news, EVP Melanie Antoon sold 9,289 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $3.07, for a total value of $28,517.23. Following the completion of the transaction, the executive vice president owned 203,421 shares of the company’s stock, valued at $624,502.47. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Krishna Srinivasan acquired 40,000 shares of CS Disco stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $130,000.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at approximately $146,250. This trade represents a 800.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 1,090,200 shares of company stock worth $3,475,943 and sold 27,711 shares worth $85,073. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of large investors have recently modified their holdings of LAW. Essex Investment Management Co. LLC acquired a new stake in CS Disco during the 3rd quarter worth approximately $2,868,000. Topline Capital Management LLC lifted its position in CS Disco by 8.1% during the third quarter. Topline Capital Management LLC now owns 3,206,003 shares of the company’s stock valued at $20,711,000 after buying an additional 240,735 shares in the last quarter. Norges Bank acquired a new position in CS Disco during the second quarter valued at approximately $2,863,000. First Eagle Investment Management LLC purchased a new stake in CS Disco during the third quarter worth approximately $1,058,000. Finally, Legato Capital Management LLC acquired a new stake in shares of CS Disco in the third quarter worth $834,000. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

CS Disco Stock Down 2.1%

Shares of NYSE LAW traded down $0.08 during trading on Tuesday, hitting $3.75. 19,470 shares of the company traded hands, compared to its average volume of 399,655. The firm has a market capitalization of $237.36 million, a P/E ratio of -5.20 and a beta of 2.16. The company has a 50-day moving average price of $4.45 and a 200-day moving average price of $6.09. CS Disco has a 1 year low of $2.45 and a 1 year high of $9.11.

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.