Eric Friedrichsen Purchases 7,500 Shares of CS Disco (NYSE:LAW) Stock

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen bought 7,500 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the purchase, the chief executive officer directly owned 1,481,180 shares in the company, valued at approximately $6,309,826.80. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CS Disco Stock Up 3.1%

Shares of LAW stock opened at $4.34 on Thursday. The firm has a market cap of $281.75 million, a P/E ratio of -6.89 and a beta of 1.90. The company has a 50 day moving average of $3.85 and a 200-day moving average of $4.03. CS Disco, Inc. has a 12-month low of $2.45 and a 12-month high of $9.11.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). CS Disco had a negative return on equity of 26.58% and a negative net margin of 24.20%.The business had revenue of $43.15 million for the quarter, compared to analysts’ expectations of $43.10 million.

Wall Street Analyst Weigh In

LAW has been the subject of several research analyst reports. Wall Street Zen lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, one has given 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 a consensus price target of $8.00.

Institutional Investors Weigh In On CS Disco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Topline Capital Management LLC boosted its holdings in CS Disco by 66.2% in the second quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company’s stock valued at $12,958,000 after acquiring an additional 1,181,046 shares in the last quarter. BlackRock Inc. bought a new position in CS Disco in the 2nd quarter worth $7,617,000. Vanguard Group Inc. raised its holdings in CS Disco by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company’s stock worth $12,656,000 after purchasing an additional 33,672 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CS Disco by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 782,025 shares of the company’s stock worth $2,987,000 after purchasing an additional 24,031 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CS Disco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 550,998 shares of the company’s stock valued at $4,277,000 after purchasing an additional 5,634 shares in the last quarter. 58.05% of the stock is currently owned by institutional investors.

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.