Key Points
- Insider sale: Susan Garcia sold 6,840 CS Disco shares for $28,591.20, reducing her position by 4.69% to 139,109 shares. The sale covered tax-withholding obligations tied to vested equity awards.
- Financial performance: CS Disco reported quarterly revenue of $43.15 million, slightly above estimates, while its adjusted loss of $0.06 per share matched analyst expectations. The company continues to post negative net margins and return on equity.
- Market outlook: Shares opened at $4.38, and analysts hold a consensus “Hold” rating with an average price target of $8.00. Institutional investors own 58.05% of the stock, with several major funds recently increasing or initiating positions.
CS Disco, Inc. (NYSE:LAW - Get Free Report) insider Susan Garcia sold 6,840 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $4.18, for a total value of $28,591.20. Following the completion of the sale, the insider owned 139,109 shares of the company's stock, valued at approximately $581,475.62. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
CS Disco Stock Performance
CS Disco stock opened at $4.38 on Thursday. The stock's 50 day moving average price is $3.92 and its 200 day moving average price is $3.96. CS Disco, Inc. has a one year low of $2.45 and a one year high of $9.11. The firm has a market capitalization of $284.02 million, a PE ratio of -6.94 and a beta of 1.90.
CS Disco (NYSE:LAW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). CS Disco had a negative net margin of 24.20% and a negative return on equity of 26.58%. The business had revenue of $43.15 million during the quarter, compared to analyst estimates of $43.10 million.
Wall Street Analyst Weigh In
LAW has been the subject of a number of recent analyst reports. Weiss Ratings upgraded CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. Wall Street Zen cut CS Disco from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CS Disco currently has a consensus rating of "Hold" and an average target price of $8.00.
Get Our Latest Stock Analysis on LAW
Institutional Investors Weigh In On CS Disco
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Topline Capital Management LLC lifted its holdings in shares of CS Disco by 66.2% during the second quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company's stock valued at $12,958,000 after purchasing an additional 1,181,046 shares during the last quarter. BlackRock Inc. bought a new position in CS Disco during the second quarter valued at approximately $7,617,000. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 33,672 shares in the last quarter. Lakewood Capital Management LP bought a new position in shares of CS Disco in the 2nd quarter valued at approximately $4,183,000. Finally, Formula Growth Ltd. acquired a new stake in shares of CS Disco in the second quarter worth $3,024,000. 58.05% of the stock is currently owned by institutional investors.
CS Disco Company Profile
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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.
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