Eric Friedrichsen Buys 15,500 Shares of CS Disco (NYSE:LAW) Stock

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen acquired 15,500 shares of CS Disco stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of $2.90 per share, with a total value of $44,950.00. Following the purchase, the chief executive officer owned 1,508,172 shares in the company, valued at $4,373,698.80. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CS Disco Stock Up 12.2%

Shares of LAW opened at $3.95 on Wednesday. The company has a 50 day moving average of $5.64 and a two-hundred day moving average of $6.23. CS Disco, Inc. has a twelve month low of $2.45 and a twelve month high of $9.11. The company has a market cap of $250.15 million, a price-to-earnings ratio of -5.49 and a beta of 2.15.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAW. Canaccord Genuity Group reduced their target price on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Jefferies Financial Group upped their price objective on shares of 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 lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CS Disco has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Investors Weigh In On CS Disco

A number of institutional investors and hedge funds have recently modified their holdings of LAW. Essex Investment Management Co. LLC acquired a new position in CS Disco in the 3rd quarter worth approximately $2,868,000. Los Angeles Capital Management LLC acquired a new stake in CS Disco during the 2nd quarter valued at approximately $324,000. Norges Bank purchased a new stake in shares of CS Disco in the 2nd quarter valued at $2,863,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of CS Disco in the second quarter worth $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CS Disco by 20.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,782 shares of the company’s stock worth $877,000 after acquiring an additional 34,406 shares during the period. Institutional investors and hedge funds own 58.05% of the company’s stock.

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.