Short Interest in CS Disco, Inc. (NYSE:LAW) Decreases By 18.0%

CS Disco, Inc. (NYSE:LAW - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 397,000 shares, a decline of 18.0% from the March 31st total of 484,000 shares. Currently, 1.8% of the company's stock are short sold. Based on an average daily volume of 113,600 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

LAW has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price target on CS Disco from $6.00 to $5.50 and set a "hold" rating on the stock in a report on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price objective on shares of CS Disco in a research note on Friday, February 21st.

CS Disco Stock Down 1.4 %

Shares of CS Disco stock traded down $0.05 during trading hours on Monday, reaching $3.65. 54,880 shares of the company's stock were exchanged, compared to its average volume of 159,794. CS Disco has a 1 year low of $3.31 and a 1 year high of $8.20. The company has a market capitalization of $221.95 million, a P/E ratio of -3.97 and a beta of 2.05. The business has a fifty day moving average of $4.07 and a two-hundred day moving average of $4.98.

CS Disco (NYSE:LAW - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.03 million. CS Disco had a negative net margin of 38.51% and a negative return on equity of 22.30%. As a group, research analysts predict that CS Disco will post -0.64 EPS for the current year.

Insider Transactions at CS Disco

In other news, CFO Michael Lafair sold 13,146 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the transaction, the chief financial officer now directly owns 865,793 shares of the company's stock, valued at $4,493,465.67. This represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 22,995 shares of company stock valued at $118,818 in the last quarter. 15.60% of the stock is owned by insiders.

Institutional Trading of CS Disco

Several institutional investors have recently added to or reduced their stakes in LAW. Wells Fargo & Company MN grew its stake in shares of CS Disco by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 23,210 shares of the company's stock valued at $116,000 after buying an additional 2,781 shares in the last quarter. Rhumbline Advisers boosted its holdings in CS Disco by 8.8% in the fourth quarter. Rhumbline Advisers now owns 41,156 shares of the company's stock valued at $205,000 after purchasing an additional 3,326 shares during the period. Meeder Asset Management Inc. grew its stake in CS Disco by 50.7% during the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company's stock worth $54,000 after purchasing an additional 3,650 shares in the last quarter. Barclays PLC increased its holdings in CS Disco by 10.4% during the 4th quarter. Barclays PLC now owns 45,188 shares of the company's stock worth $226,000 after purchasing an additional 4,269 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in CS Disco by 6.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 76,174 shares of the company's stock valued at $380,000 after purchasing an additional 4,855 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company's stock.

About CS Disco

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.