CS Disco (NYSE:LAW) Insider Sells $28,591.20 in Stock

CS Disco, Inc. (NYSE:LAW) insider Susan Garcia sold 6,840 shares of the business’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 $28,591.20. Following the completion of the transaction, the insider directly owned 139,109 shares in the company, valued at $581,475.62. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Stock Performance

CS Disco stock traded down $0.04 during trading hours on Wednesday, reaching $4.38. 277,412 shares of the stock were exchanged, compared to its average volume of 345,653. CS Disco, Inc. has a 52-week low of $2.45 and a 52-week high of $9.11. The stock has a market cap of $284.02 million, a P/E ratio of -6.94 and a beta of 1.90. The firm’s 50 day moving average is $3.91 and its 200 day moving average is $3.98.

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

Institutional Trading of CS Disco

Several hedge funds and other institutional investors have recently made changes to their positions in LAW. Formula Growth Ltd. purchased a new stake in CS Disco during the second quarter worth about $3,024,000. Public Employees Retirement System of Ohio acquired a new position in CS Disco during the second quarter worth about $128,000. Corient Private Wealth LP purchased a new position in CS Disco in the second quarter valued at about $95,000. Bank of America Corp DE purchased a new position in CS Disco in the second quarter valued at about $83,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of CS Disco during the 2nd quarter valued at approximately $111,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

Wall Street Analysts Forecast Growth

LAW has been the subject of a number of analyst reports. Wall Street Zen downgraded CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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.