CS Disco (NYSE:LAW) EVP Sells $35,588.52 in Stock

CS Disco, Inc. (NYSE:LAW) EVP Melanie Antoon sold 8,514 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $4.18, for a total value of $35,588.52. Following the completion of the transaction, the executive vice president owned 267,507 shares in the company, valued at $1,118,179.26. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Trading Down 1.8%

Shares of LAW opened at $4.26 on Friday. CS Disco, Inc. has a 12-month low of $2.45 and a 12-month high of $9.11. The company has a market cap of $276.56 million, a PE ratio of -6.76 and a beta of 1.90. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $3.95.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its stake in shares of CS Disco by 1.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 205,372 shares of the company’s stock valued at $1,327,000 after acquiring an additional 2,045 shares during the last quarter. PDT Partners LLC grew its position in CS Disco by 7.6% during the 2nd quarter. PDT Partners LLC now owns 33,795 shares of the company’s stock worth $148,000 after acquiring an additional 2,388 shares during the last quarter. Jane Street Group LLC grew its position in CS Disco by 5.9% during the 2nd quarter. Jane Street Group LLC now owns 47,260 shares of the company’s stock worth $207,000 after acquiring an additional 2,632 shares during the last quarter. Bank of America Corp DE increased its stake in CS Disco by 11.6% in the 1st quarter. Bank of America Corp DE now owns 26,015 shares of the company’s stock worth $99,000 after purchasing an additional 2,701 shares during the period. Finally, Algert Global LLC increased its stake in CS Disco by 18.3% in the 2nd quarter. Algert Global LLC now owns 28,120 shares of the company’s stock worth $106,000 after purchasing an additional 4,350 shares during the period. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Analyst Upgrades and Downgrades

LAW has been the topic of several research reports. Wall Street Zen cut shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research report 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.