Insider Selling: CS Disco (NYSE:LAW) Insider Sells $28,591.20 in Stock

CS Disco, Inc. (NYSE:LAW) insider Susan Garcia sold 6,840 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $4.18, for a total transaction of $28,591.20. Following the completion of the sale, the insider owned 139,109 shares in the company, valued at $581,475.62. This represents a 4.69% decrease 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Price Performance

Shares of LAW opened at $4.26 on Friday. The firm has a 50 day simple moving average of $3.95 and a 200-day simple moving average of $3.95. CS Disco, Inc. has a 1-year low of $2.45 and a 1-year high of $9.11. The stock has a market cap of $276.56 million, a price-to-earnings ratio of -6.76 and a beta of 1.90.

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

Hedge Funds Weigh In On CS Disco

Several institutional investors and hedge funds have recently modified their holdings of LAW. Cubist Systematic Strategies LLC acquired a new stake in CS Disco during the first quarter worth approximately $216,000. Jane Street Group LLC grew its stake in CS Disco by 51.6% in the 1st quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock worth $183,000 after acquiring an additional 15,187 shares during the period. Acadian Asset Management LLC acquired a new position in CS Disco in the 1st quarter valued at $195,000. XTX Topco Ltd acquired a new position in CS Disco in the 2nd quarter valued at $139,000. Finally, Occudo Quantitative Strategies LP acquired a new position in CS Disco in the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Wall Street Zen cut CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.