CS Disco (NYSE:LAW) Shares Down 1.1% – Here’s Why

CS Disco, Inc. (NYSE:LAW)’s stock price dropped 1.1% during trading on Tuesday. The stock traded as low as $4.37 and last traded at $4.41. Approximately 173,542 shares were traded during trading, an increase of 3% from the average session volume of 169,035 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CS Disco in a research note on Tuesday, September 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

CS Disco Trading Up 6.2%

The stock has a market cap of $303.50 million, a price-to-earnings ratio of -7.42 and a beta of 1.91. The company has a fifty day simple moving average of $4.26 and a 200-day simple moving average of $4.01.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $43.15 million for the quarter, compared to analyst estimates of $43.10 million. CS Disco had a negative return on equity of 26.58% and a negative net margin of 24.20%.

Insider Transactions at CS Disco

In related news, EVP Karen Herckis sold 8,487 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $4.18, for a total transaction of $35,475.66. Following the completion of the transaction, the executive vice president directly owned 181,824 shares in the company, valued at $760,024.32. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Melanie Antoon sold 8,514 shares of CS Disco stock in a transaction on Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $35,588.52. Following the sale, the executive vice president owned 267,507 shares in the company, valued at $1,118,179.26. This represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 31,267 shares of company stock worth $130,696. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in shares of CS Disco by 11.6% during the first quarter. Bank of America Corp DE now owns 26,015 shares of the company’s stock worth $99,000 after purchasing an additional 2,701 shares in the last quarter. Algert Global LLC increased its holdings in shares of CS Disco by 18.3% in the second quarter. Algert Global LLC now owns 28,120 shares of the company’s stock valued at $106,000 after purchasing an additional 4,350 shares in the last quarter. Quantinno Capital Management LP raised its position in CS Disco by 18.4% in the 1st quarter. Quantinno Capital Management LP now owns 59,806 shares of the company’s stock worth $228,000 after purchasing an additional 9,299 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in CS Disco by 151.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,735 shares of the company’s stock worth $87,000 after buying an additional 13,700 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in CS Disco by 8.7% during the 1st quarter. Sei Investments Co. now owns 185,435 shares of the company’s stock worth $708,000 after buying an additional 14,869 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.

About CS Disco

CS Disco, Inc (NYSE: LAW) is a legal technology company that provides cloud-based software for law firms, corporate legal departments and government organizations. Its platform is designed to help legal professionals manage the discovery and litigation process more efficiently, from collecting and organizing information to reviewing documents and preparing cases.

The company’s products support electronic discovery, legal document review, case management, legal holds and other litigation-related workflows.