CS Disco (NYSE:LAW) CEO Buys $35,730.00 in Stock

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen acquired 9,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were acquired at an average cost of $3.97 per share, for a total transaction of $35,730.00. Following the completion of the acquisition, the chief executive officer owned 1,517,172 shares of the company’s stock, valued at approximately $6,023,172.84. The trade was a 0.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Eric Friedrichsen also recently made the following trade(s):

• On Friday, February 27th, Eric Friedrichsen acquired 15,500 shares of CS Disco stock. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $44,950.00.

CS Disco Stock Down 7.3%

NYSE LAW opened at $3.52 on Thursday. The company has a market cap of $225.42 million, a PE ratio of -5.17 and a beta of 1.95. CS Disco, Inc. has a 52 week low of $2.45 and a 52 week high of $9.11. The firm’s 50-day simple moving average is $4.08 and its two-hundred day simple moving average is $5.60.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $41.88 million for the quarter, compared to the consensus estimate of $40.30 million. CS Disco had a negative net margin of 26.28% and a negative return on equity of 26.12%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LAW shares. Weiss Ratings raised CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Wall Street Zen cut CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of CS Disco in a report on Thursday, February 26th. Finally, Canaccord Genuity Group dropped their price objective on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently modified their holdings of LAW. Cubist Systematic Strategies LLC bought a new position in shares of CS Disco during the 1st quarter valued at about $216,000. Jane Street Group LLC increased its position 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 bought a new position in shares of CS Disco during the 1st quarter valued at about $195,000. XTX Topco Ltd bought a new position in shares of CS Disco during the 2nd quarter valued at about $139,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of CS Disco during the 2nd quarter valued at about $75,000. 58.05% of the stock is currently owned by 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.