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

Key Points

• CS Disco EVP Karen Herckis sold 8,487 shares at an average price of $4.18, totaling $35,475.66. The sale, which covered tax withholding tied to vested equity awards, reduced her ownership by 4.46% to 181,824 shares.
• LAW shares recently traded at $4.38, down 1%, with the company valued at approximately $284 million. CS Disco reported quarterly revenue of $43.15 million and an EPS loss of $0.06, matching analyst expectations.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $8.00. Institutional investors own 58.05% of the company, with several funds initiating positions during the second quarter.

CS Disco, Inc. (NYSE:LAW - Get Free Report) EVP Karen Herckis sold 8,487 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $4.18, for a total transaction of $35,475.66. Following the sale, the executive vice president directly owned 181,824 shares in the company, valued at approximately $760,024.32. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Stock Down 1.0%

Shares of LAW traded down $0.04 during mid-day trading on Wednesday, hitting $4.38. 277,412 shares of the company's stock traded hands, compared to its average volume of 345,653. CS Disco, Inc. has a 1 year low of $2.45 and a 1 year high of $9.11. The firm has a market capitalization of $284.02 million, a P/E ratio of -6.94 and a beta of 1.90. The business's 50-day moving average price is $3.91 and its 200-day moving average price is $3.98.

CS Disco (NYSE:LAW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). CS Disco had a negative net margin of 24.20% and a negative return on equity of 26.58%. The company had revenue of $43.15 million during the quarter, compared to analyst estimates of $43.10 million.

Analyst Ratings Changes

A number of brokerages have issued reports on LAW. Weiss Ratings raised CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. Wall Street Zen lowered CS Disco from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.00.

Institutional Trading of CS Disco

Several institutional investors and hedge funds have recently bought and sold shares of LAW. Formula Growth Ltd. bought a new stake in CS Disco during the second quarter worth $3,024,000. Public Employees Retirement System of Ohio bought a new stake in shares of CS Disco during the 2nd quarter valued at $128,000. Corient Private Wealth LP bought a new position in CS Disco in the second quarter valued at $95,000. Bank of America Corp DE purchased a new position in shares of CS Disco in the second quarter valued at about $83,000. Finally, Hsbc Holdings PLC bought a new stake in shares of CS Disco during the 2nd quarter valued at about $111,000. Institutional investors own 58.05% of the company's stock.

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.

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