CS Disco (NYSE:LAW) Shares Down 0.6% - What's Next?

Key Points

• Shares fell about 0.6% to ~$4.27 on Monday with volume slightly below average; the stock has a 50‑day SMA of $3.85, 200‑day SMA of $5.83 and a market cap near $270 million.
• Analysts hold a consensus rating of "Hold" with an average price target of $8.00, amid mixed recent notes (some downgrades and target cuts, while a few firms remain bullish).
• Notable insider activity: Director Krishna Srinivasan bought 40,000 shares at $3.25 and insiders were net buyers of about 1,090,200 shares in the past three months (insiders now own ~16.1%); an EVP also sold 9,289 shares.

Shares of CS Disco, Inc. (NYSE:LAW - Get Free Report) traded down 0.6% on Monday . The company traded as low as $4.20 and last traded at $4.2650. 177,909 shares were traded during mid-day trading, a decline of 3% from the average session volume of 182,813 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut CS Disco from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of CS Disco in a research note on Wednesday, January 21st. Canaccord Genuity Group lowered their target price on shares of CS Disco from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group upped their price target on shares of CS Disco from $6.00 to $8.00 and gave the stock a "hold" rating in a research report on Monday, January 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, CS Disco presently has a consensus rating of "Hold" and an average price target of $8.00.

CS Disco Price Performance

The business has a 50-day simple moving average of $3.85 and a two-hundred day simple moving average of $5.83. The stock has a market cap of $270.10 million, a price-to-earnings ratio of -5.92 and a beta of 1.98.

Insider Buying and Selling at CS Disco

In related news, EVP Melanie Antoon sold 9,289 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total value of $28,517.23. Following the sale, the executive vice president owned 203,421 shares in the company, valued at approximately $624,502.47. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Krishna Srinivasan purchased 40,000 shares of the business's stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $3.25 per share, with a total value of $130,000.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $146,250. The trade was a 800.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 1,090,200 shares of company stock worth $3,475,943 and sold 27,711 shares worth $85,073. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in CS Disco by 73.5% during the third quarter. CWM LLC now owns 4,804 shares of the company's stock worth $31,000 after acquiring an additional 2,035 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of CS Disco by 87.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company's stock valued at $44,000 after purchasing an additional 4,639 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of CS Disco during the third quarter worth approximately $62,000. Algert Global LLC bought a new position in shares of CS Disco during the third quarter worth approximately $70,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in CS Disco during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 58.05% of the company's stock.

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.

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