CS Disco (NYSE:LAW) CEO Eric Friedrichsen Acquires 9,000 Shares

CS Disco, Inc. (NYSE:LAW) CEO Eric Friedrichsen acquired 9,000 shares of CS Disco stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $3.97 per share, with a total value of $35,730.00. Following the transaction, the chief executive officer owned 1,517,172 shares in the company, valued at $6,023,172.84. This represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Eric Friedrichsen also recently made the following trade(s):

• On Friday, February 27th, Eric Friedrichsen acquired 15,500 shares of CS Disco stock. The shares were bought at an average cost of $2.90 per share, with a total value of $44,950.00.

CS Disco Price Performance

LAW stock traded down $0.44 on Monday, reaching $3.68. 834,987 shares of the company traded hands, compared to its average volume of 383,748. CS Disco, Inc. has a one year low of $2.45 and a one year high of $9.11. The company has a market cap of $236.00 million, a P/E ratio of -5.41 and a beta of 1.95. The firm has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $5.68.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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 research report on Thursday, February 26th. Weiss Ratings upgraded CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of CS Disco in a research note on Thursday, February 26th. Finally, Wall Street Zen downgraded CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CS Disco presently has an average rating of “Hold” and a consensus price target of $8.00.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently modified their holdings of LAW. Cubist Systematic Strategies LLC purchased a new position in shares of CS Disco in the 1st quarter worth $216,000. Jane Street Group LLC boosted its stake in shares of CS Disco by 51.6% in the 1st quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock worth $183,000 after buying an additional 15,187 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of CS Disco in the 1st quarter worth $195,000. XTX Topco Ltd purchased a new position in shares of CS Disco in the 2nd quarter worth $139,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of CS Disco in the 2nd quarter worth $75,000. 58.05% of the stock is currently owned by hedge funds and other 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.