Insider Selling: CS Disco (NYSE:LAW) EVP Sells $35,475.66 in Stock

CS Disco, Inc. (NYSE:LAW) EVP Karen Herckis sold 8,487 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $35,475.66. Following the completion of the sale, the executive vice president owned 181,824 shares in the company, valued at $760,024.32. This represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Trading Down 1.8%

NYSE:LAW opened at $4.26 on Friday. The company has a market cap of $276.56 million, a PE ratio of -6.76 and a beta of 1.90. The company has a 50 day simple moving average of $3.95 and a two-hundred day simple moving average of $3.95. CS Disco, Inc. has a 12 month low of $2.45 and a 12 month high of $9.11.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On CS Disco

Several hedge funds and other institutional investors have recently modified their holdings of LAW. Tower Research Capital LLC TRC raised its holdings in CS Disco by 87.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock worth $44,000 after purchasing an additional 4,639 shares during the period. Algert Global LLC bought a new stake in CS Disco during the third quarter valued at about $70,000. Mercer Global Advisors Inc. ADV bought a new stake in CS Disco during the fourth quarter valued at about $99,000. CIBC Asset Management Inc bought a new stake in CS Disco during the fourth quarter valued at about $102,000. Finally, BNP Paribas Financial Markets increased its position in CS Disco by 242.5% in the third quarter. BNP Paribas Financial Markets now owns 13,450 shares of the company’s stock worth $87,000 after buying an additional 9,523 shares in the last quarter. 58.05% of the stock is currently owned by hedge funds and other 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.