Insider Buying: CS Disco (NYSE:LAW) Director Buys 1,026,700 Shares of Stock

CS Disco, Inc. (NYSE:LAW) Director Robert Goodman acquired 1,026,700 shares of CS Disco stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $3.19 per share, with a total value of $3,275,173.00. Following the completion of the acquisition, the director owned 1,038,475 shares of the company’s stock, valued at $3,312,735.25. This trade represents a 8,719.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

CS Disco Trading Up 12.2%

Shares of LAW traded up $0.43 during trading hours on Tuesday, reaching $3.95. 1,148,298 shares of the company’s stock traded hands, compared to its average volume of 439,934. The firm’s 50 day simple moving average is $5.72 and its 200-day simple moving average is $6.24. The stock has a market cap of $250.15 million, a PE ratio of -5.49 and a beta of 2.08. CS Disco, Inc. has a 12 month low of $2.45 and a 12 month high of $9.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Topline Capital Management LLC grew its position in shares of CS Disco by 8.1% during the third 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 during the last quarter. Vanguard Group Inc. increased its holdings in CS Disco by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company’s stock valued at $12,656,000 after acquiring an additional 33,672 shares in the last quarter. Formula Growth Ltd. raised its holdings in shares of CS Disco by 3.8% in the second quarter. Formula Growth Ltd. now owns 830,000 shares of the company’s stock worth $3,627,000 after acquiring an additional 30,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CS Disco by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 757,994 shares of the company’s stock valued at $5,882,000 after buying an additional 26,608 shares during the period. Finally, Norges Bank acquired a new position in CS Disco in the second quarter valued at $2,863,000. 58.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LAW has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Canaccord Genuity Group dropped their price objective 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. Jefferies Financial Group raised their price target on CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a report on Monday, January 5th. Wall Street Zen downgraded shares of CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CS Disco in a research report on Wednesday, January 21st. 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.