CS Disco (NYSE:LAW) CEO Eric Friedrichsen Purchases 7,500 Shares of Stock

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen acquired 7,500 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $4.26 per share, with a total value of $31,950.00. Following the completion of the acquisition, the chief executive officer directly owned 1,481,180 shares in the company, valued at approximately $6,309,826.80. This represents a 0.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CS Disco Stock Up 1.2%

LAW stock opened at $4.22 on Wednesday. CS Disco, Inc. has a twelve month low of $2.45 and a twelve month high of $9.11. The stock’s 50 day moving average is $3.84 and its 200-day moving average is $4.05. The firm has a market capitalization of $274.09 million, a PE ratio of -6.70 and a beta of 1.90.

CS Disco (NYSE:LAW) last announced its quarterly 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 business had revenue of $43.15 million during the quarter, compared to the consensus estimate of $43.10 million.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On CS Disco

Several large investors have recently made changes to their positions in LAW. Cubist Systematic Strategies LLC purchased a new position in shares of CS Disco in the 1st quarter worth about $216,000. Jane Street Group LLC grew its position in CS Disco by 51.6% during the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after buying an additional 15,187 shares during the period. Acadian Asset Management LLC purchased a new stake in CS Disco during the first quarter worth about $195,000. XTX Topco Ltd purchased a new stake in CS Disco during the second quarter worth about $139,000. Finally, Occudo Quantitative Strategies LP bought a new stake in CS Disco in the second quarter worth about $75,000. 58.05% of the stock is 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.