Key Points
- CS Disco CEO Eric Friedrichsen bought 9,000 shares on May 8 at an average price of $3.97, increasing his direct stake to 1,517,172 shares worth about $6.0 million. The purchase was disclosed in an SEC filing and follows another insider buy earlier this year.
- The company recently beat quarterly expectations, reporting a loss of $0.07 per share versus the expected $0.09 loss and revenue of $41.88 million versus estimates of $40.30 million. Despite the beat, CS Disco remains unprofitable with negative net margin and return on equity.
- Analyst sentiment is mixed, with a current consensus rating of “Hold” and an average price target of $8.00. Institutional ownership remains substantial, with hedge funds and other investors holding 58.05% of the stock.
CS Disco, Inc. (NYSE:LAW - Get Free Report) CEO Eric Friedrichsen purchased 9,000 shares of the stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $3.97 per share, with a total value of $35,730.00. Following the transaction, the chief executive officer directly owned 1,517,172 shares in the company, valued at approximately $6,023,172.84. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Eric Friedrichsen also recently made the following trade(s):
- On Friday, February 27th, Eric Friedrichsen purchased 15,500 shares of CS Disco stock. The stock was acquired at an average cost of $2.90 per share, with a total value of $44,950.00.
CS Disco Stock Performance
Shares of LAW opened at $3.68 on Tuesday. The company has a 50 day moving average price of $4.07 and a 200-day moving average price of $5.65. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The stock has a market capitalization of $236.01 million, a PE ratio of -5.41 and a beta of 1.95.
CS Disco (NYSE:LAW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. CS Disco had a negative net margin of 26.28% and a negative return on equity of 26.12%. The firm had revenue of $41.88 million during the quarter, compared to analysts' expectations of $40.30 million.
Wall Street Analyst Weigh In
A number of research firms recently commented on LAW. Canaccord Genuity Group decreased their target price on shares of 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 raised shares of CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, April 29th. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of CS Disco in a research report on Thursday, February 26th. Finally, Wall Street Zen cut shares of CS Disco from a "buy" rating to a "hold" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CS Disco currently has a consensus rating of "Hold" and a consensus price target of $8.00.
Get Our Latest Research Report on LAW
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC raised its holdings in shares of CS Disco by 8.1% in the third quarter. Topline Capital Management LLC now owns 3,206,003 shares of the company's stock worth $20,711,000 after buying an additional 240,735 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of CS Disco by 1.7% in the third quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company's stock worth $12,656,000 after buying an additional 33,672 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CS Disco by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 782,025 shares of the company's stock worth $2,987,000 after buying an additional 24,031 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CS Disco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 550,998 shares of the company's stock worth $4,277,000 after buying an additional 5,634 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CS Disco in the fourth quarter worth $4,252,000. Hedge funds and other institutional investors own 58.05% of the company's stock.
About CS Disco
(
Get Free Report)
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.
Further Reading
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