Wall Street Zen Downgrades CS Disco (NYSE:LAW) to Hold

CS Disco (NYSE:LAW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Jefferies Financial Group boosted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of CS Disco in a report on Thursday. Finally, Canaccord Genuity Group reduced their price target on shares of CS Disco from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.00.

CS Disco Stock Up 9.2%

Shares of LAW opened at $3.25 on Friday. CS Disco has a twelve month low of $2.45 and a twelve month high of $9.11. The company has a market capitalization of $206.08 million, a P/E ratio of -4.52 and a beta of 2.16. The firm has a 50 day moving average of $5.82 and a 200 day moving average of $6.25.

Insider Activity

In other CS Disco news, EVP Melanie Antoon sold 9,289 shares of the company’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 transaction of $28,517.23. Following the completion of the sale, the executive vice president directly owned 203,421 shares of the company’s stock, valued at approximately $624,502.47. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karen Herckis sold 8,171 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total transaction of $25,084.97. Following the completion of the transaction, the executive vice president owned 132,259 shares in the company, valued at $406,035.13. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,711 shares of company stock valued at $85,073 in the last ninety days. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV bought a new position in CS Disco in the 4th quarter worth $99,000. XTX Topco Ltd increased its position in CS Disco by 274.1% in the fourth quarter. XTX Topco Ltd now owns 42,616 shares of the company’s stock worth $331,000 after buying an additional 31,223 shares in the last quarter. Zacks Investment Management raised its stake in shares of CS Disco by 35.7% in the fourth quarter. Zacks Investment Management now owns 84,286 shares of the company’s stock worth $654,000 after buying an additional 22,192 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of CS Disco during the 4th quarter valued at about $187,000. Finally, Occudo Quantitative Strategies LP grew its stake in shares of CS Disco by 29.7% during the 4th quarter. Occudo Quantitative Strategies LP now owns 23,029 shares of the company’s stock valued at $179,000 after acquiring an additional 5,271 shares during the period. 58.05% of the stock is currently 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.