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

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

Analysts Set New Price Targets

A number of analysts have weighed in on LAW shares. Weiss Ratings upgraded CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Wall Street Zen cut CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

CS Disco Price Performance

The stock has a market capitalization of $261.01 million, a P/E ratio of -5.99 and a beta of 1.91. The company’s 50 day simple moving average is $3.78 and its two-hundred day simple moving average is $4.45.

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

Insider Transactions at CS Disco

In other CS Disco news, CEO Eric Friedrichsen acquired 9,000 shares of CS Disco stock in a transaction on Friday, May 8th. The shares were bought at an average price of $3.97 per share, with a total value of $35,730.00. Following the completion of the purchase, the chief executive officer owned 1,517,172 shares in the company, valued at $6,023,172.84. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LAW. Bank of America Corp DE increased its position 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 valued at $99,000 after acquiring an additional 2,701 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of CS Disco by 18.4% during the first quarter. Quantinno Capital Management LP now owns 59,806 shares of the company’s stock worth $228,000 after purchasing an additional 9,299 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CS Disco by 29.2% during the first quarter. Renaissance Technologies LLC now owns 84,244 shares of the company’s stock worth $322,000 after purchasing an additional 19,044 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of CS Disco by 151.6% during 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of CS Disco by 216.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 476,752 shares of the company’s stock valued at $1,821,000 after purchasing an additional 326,115 shares during the last quarter. 58.05% of the stock is owned by 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.