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

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen acquired 9,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $3.97 per share, with a total value of $35,730.00. Following the completion of the acquisition, the chief executive officer directly owned 1,517,172 shares in the company, valued at approximately $6,023,172.84. This represents a 0.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, February 27th, Eric Friedrichsen acquired 15,500 shares of CS Disco stock. The stock was purchased at an average price of $2.90 per share, with a total value of $44,950.00.

CS Disco Trading Down 10.7%

Shares of LAW traded down $0.44 during midday trading on Monday, reaching $3.68. The stock had a trading volume of 834,987 shares, compared to its average volume of 383,748. The company’s 50-day moving average is $4.03 and its 200 day moving average is $5.68. CS Disco, Inc. has a 12-month low of $2.45 and a 12-month high of $9.11. The company has a market capitalization of $236.00 million, a price-to-earnings ratio of -5.41 and a beta of 1.95.

CS Disco (NYSE:LAW) last released its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. CS Disco had a negative return on equity of 26.12% and a negative net margin of 26.28%.The company had revenue of $41.88 million during the quarter, compared to analyst estimates of $40.30 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Topline Capital Management LLC raised its position in shares of CS Disco by 8.1% in the 3rd quarter. Topline Capital Management LLC now owns 3,206,003 shares of the company’s stock worth $20,711,000 after acquiring an additional 240,735 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CS Disco by 1.7% in the 3rd 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 raised its position in shares of CS Disco by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 782,025 shares of the company’s stock worth $2,987,000 after acquiring an additional 24,031 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CS Disco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 550,998 shares of the company’s stock worth $4,277,000 after acquiring an additional 5,634 shares in the last quarter. Finally, Norges Bank bought a new position in shares of CS Disco in the 4th quarter worth approximately $4,252,000. Institutional investors own 58.05% of the company’s stock.

Analyst Ratings Changes

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

About CS Disco

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.