Karen Herckis Sells 8,487 Shares of CS Disco (NYSE:LAW) Stock

CS Disco, Inc. (NYSE:LAW) EVP Karen Herckis sold 8,487 shares of CS Disco stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $35,475.66. Following the transaction, the executive vice president directly owned 181,824 shares of the company’s stock, valued at approximately $760,024.32. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Price Performance

CS Disco stock traded down $0.04 during trading hours on Wednesday, hitting $4.38. 277,412 shares of the stock traded hands, compared to its average volume of 345,653. The firm’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.98. CS Disco, Inc. has a 1 year low of $2.45 and a 1 year high of $9.11. The stock has a market capitalization of $284.02 million, a price-to-earnings ratio of -6.94 and a beta of 1.90.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $43.10 million.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in CS Disco by 87.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock valued at $44,000 after purchasing an additional 4,639 shares during the period. Algert Global LLC purchased a new stake in shares of CS Disco in the 3rd quarter worth $70,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of CS Disco during the 4th quarter valued at $99,000. CIBC Asset Management Inc bought a new stake in shares of CS Disco during the fourth quarter valued at approximately $102,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of CS Disco by 242.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,450 shares of the company’s stock worth $87,000 after acquiring an additional 9,523 shares in the last quarter. 58.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LAW shares. Weiss Ratings raised CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Wall Street Zen cut shares of CS Disco from a “buy” rating to a “hold” rating in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

CS Disco Company Profile

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.