Lakewood Capital Management LP Buys New Shares in CS Disco, Inc. $LAW

Lakewood Capital Management LP purchased a new stake in CS Disco, Inc. (NYSE:LAW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,106,531 shares of the company’s stock, valued at approximately $4,183,000. Lakewood Capital Management LP owned about 1.70% of CS Disco at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAW. Topline Capital Management LLC increased its position in shares of CS Disco by 66.2% in the second quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company’s stock valued at $12,958,000 after acquiring an additional 1,181,046 shares during the last quarter. BlackRock Inc. bought a new stake in CS Disco during the second quarter worth about $7,617,000. Vanguard Group Inc. raised its holdings in CS Disco by 1.7% during the third quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company’s stock worth $12,656,000 after acquiring an additional 33,672 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in CS Disco by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 782,025 shares of the company’s stock valued at $2,987,000 after purchasing an additional 24,031 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in CS Disco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 550,998 shares of the company’s stock valued at $4,277,000 after purchasing an additional 5,634 shares in the last quarter. 58.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

LAW has been the topic of several recent analyst reports. Weiss Ratings raised CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Wall Street Zen downgraded CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CS Disco has a consensus rating of “Hold” and an average target price of $8.00.

CS Disco Stock Performance

Shares of LAW stock opened at $4.22 on Tuesday. 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 $274.03 million, a price-to-earnings ratio of -6.70 and a beta of 1.90. The firm’s 50-day moving average is $3.97 and its 200-day moving average is $3.92.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, hitting 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 the consensus estimate of $43.10 million.

Insider Buying and Selling at CS Disco

In related news, EVP Richard Francis Crum sold 7,426 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $31,040.68. Following the transaction, the executive vice president directly owned 335,183 shares of the company’s stock, valued at approximately $1,401,064.94. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Karen Herckis sold 8,487 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $4.18, for a total value of $35,475.66. Following the completion of the sale, the executive vice president owned 181,824 shares in the company, valued at approximately $760,024.32. This trade represents a 4.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 31,267 shares of company stock worth $130,696 in the last three months. 16.80% of the stock is owned by insiders.

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.