Insider Selling: CS Disco (NYSE:LAW) EVP Sells $31,040.68 in Stock

CS Disco, Inc. (NYSE:LAW) EVP Richard Francis Crum sold 7,426 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $4.18, for a total value of $31,040.68. Following the completion of the transaction, the executive vice president owned 335,183 shares in the company, valued at $1,401,064.94. This trade represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock opened at $4.26 on Friday. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The stock’s 50-day moving average is $3.95 and its two-hundred day moving average is $3.95. The firm has a market cap of $276.56 million, a P/E ratio of -6.76 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, meeting the consensus estimate of ($0.06). The business had revenue of $43.15 million during 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%.

Wall Street Analysts Forecast Growth

Several analysts have commented on LAW shares. Wall Street Zen downgraded shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.00.

Institutional Investors Weigh In On CS Disco

Several hedge funds and other institutional investors have recently made changes to their positions in LAW. Tower Research Capital LLC TRC increased its stake in shares of CS Disco by 87.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock worth $44,000 after purchasing an additional 4,639 shares during the period. Abel Hall LLC bought a new stake in CS Disco during the 1st quarter valued at approximately $57,000. Algert Global LLC bought a new stake in CS Disco during the 3rd quarter valued at approximately $70,000. Deutsche Bank AG acquired a new stake in CS Disco in the 2nd quarter valued at approximately $75,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in CS Disco in the 2nd quarter valued at approximately $75,000. 58.05% of the stock is owned by institutional investors and hedge funds.

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.