Legato Capital Management LLC Takes $834,000 Position in CS Disco, Inc. $LAW

Legato Capital Management LLC bought a new position in shares of CS Disco, Inc. (NYSE:LAW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 129,115 shares of the company’s stock, valued at approximately $834,000.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC raised its stake in CS Disco by 73.5% in the 3rd quarter. CWM LLC now owns 4,804 shares of the company’s stock valued at $31,000 after acquiring an additional 2,035 shares during the period. PDT Partners LLC increased its holdings in shares of CS Disco by 7.6% in the second quarter. PDT Partners LLC now owns 33,795 shares of the company’s stock valued at $148,000 after purchasing an additional 2,388 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of CS Disco by 19.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,472 shares of the company’s stock valued at $100,000 after purchasing an additional 2,504 shares during the period. Jane Street Group LLC lifted its stake in shares of 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 buying an additional 2,632 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of CS Disco by 28.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,988 shares of the company’s stock worth $97,000 after buying an additional 3,347 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Eric Friedrichsen acquired 15,500 shares of the company’s stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $2.90 per share, with a total value of $44,950.00. Following the acquisition, the chief executive officer directly owned 1,508,172 shares of the company’s stock, valued at approximately $4,373,698.80. The trade was a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melanie Antoon sold 9,289 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total value of $28,517.23. Following the sale, the executive vice president directly owned 203,421 shares in the company, valued at approximately $624,502.47. This trade represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,090,200 shares of company stock worth $3,475,943 and have sold 27,711 shares worth $85,073. Insiders own 16.10% of the company’s stock.

CS Disco Trading Up 12.2%

Shares of LAW opened at $3.95 on Wednesday. CS Disco, Inc. has a 12 month low of $2.45 and a 12 month high of $9.11. The firm’s 50 day moving average is $5.64 and its 200-day moving average is $6.23. The stock has a market capitalization of $250.15 million, a PE ratio of -5.49 and a beta of 2.15.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday. Canaccord Genuity Group reduced their price objective on CS Disco from $9.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of CS Disco in a report on Thursday, February 26th. Finally, Jefferies Financial Group boosted their price target on CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, January 5th. Two 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’s stock. According to MarketBeat.com, CS Disco has a consensus rating of “Hold” and an average target price of $8.00.

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.