CS Disco (NYSE:LAW) Shares Down 3.3% – What’s Next?

CS Disco, Inc. (NYSE:LAW) traded down 3.3% during mid-day trading on Friday . The stock traded as low as $4.03 and last traded at $4.07. 205,856 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 225,238 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LAW shares. Weiss Ratings upgraded CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a 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 analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.00.

CS Disco Price Performance

The business’s 50 day moving average is $3.78 and its 200-day moving average is $4.45. The company has a market cap of $261.03 million, a PE ratio of -5.99 and a beta of 1.91.

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

Insider Activity at CS Disco

In other CS Disco news, CEO Eric Friedrichsen bought 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 of the company’s stock, valued at $6,023,172.84. This represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.80% of the company’s stock.

Institutional Trading of CS Disco

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of CS Disco by 87.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock worth $44,000 after acquiring an additional 4,639 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of CS Disco during the 1st quarter worth about $57,000. Algert Global LLC purchased a new stake in CS Disco during the third quarter worth approximately $70,000. Occudo Quantitative Strategies LP purchased a new stake in CS Disco during the second quarter worth approximately $75,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in CS Disco by 151.6% in the first quarter. Public Employees Retirement System of Ohio now owns 22,735 shares of the company’s stock valued at $87,000 after purchasing an additional 13,700 shares in the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

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.