CS Disco, Inc. (NYSE:LAW) Short Interest Update

CS Disco, Inc. (NYSE:LAW) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,051,263 shares, an increase of 25.0% from the February 12th total of 841,219 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 847,249 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 847,249 shares, the short-interest ratio is currently 1.2 days. Currently, 2.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LAW shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Jefferies Financial Group raised their price objective on shares of CS Disco from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Monday, January 5th. Finally, Canaccord Genuity Group cut their target price on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.00.

CS Disco Stock Down 0.6%

LAW stock traded down $0.03 during trading on Tuesday, hitting $4.44. The company had a trading volume of 92,390 shares, compared to its average volume of 432,549. CS Disco has a 52-week low of $2.45 and a 52-week high of $9.11. The company has a 50 day simple moving average of $5.05 and a 200-day simple moving average of $6.20. The firm has a market capitalization of $280.87 million, a P/E ratio of -6.17 and a beta of 2.16.

Insider Transactions at CS Disco

In other CS Disco news, Director Krishna Srinivasan purchased 40,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $3.25 per share, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 45,000 shares of the company’s stock, valued at approximately $146,250. The trade was a 800.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert P. Goodman acquired 1,026,700 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $3.19 per share, with a total value of $3,275,173.00. Following the transaction, the director owned 1,038,475 shares in the company, valued at approximately $3,312,735.25. This trade represents a 8,719.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 1,090,200 shares of company stock worth $3,475,943 and sold 27,711 shares worth $85,073. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in CS Disco during the first quarter valued at approximately $216,000. Jane Street Group LLC lifted its holdings in shares of CS Disco by 51.6% during the 1st quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after purchasing an additional 15,187 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CS Disco during the 1st quarter valued at $195,000. Los Angeles Capital Management LLC acquired a new stake in shares of CS Disco in the 2nd quarter worth $324,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CS Disco by 20.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,782 shares of the company’s stock worth $877,000 after purchasing an additional 34,406 shares in the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

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.