CS Disco (NYSE:LAW) Shares Down 2.3% - What's Next?

CS Disco, Inc. (NYSE:LAW - Get Free Report)'s share price dropped 2.3% on Thursday . The company traded as low as $4.26 and last traded at $4.29. Approximately 96,242 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 135,365 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of CS Disco in a research note on Thursday, May 8th.

CS Disco Stock Performance

The company has a market cap of $260.87 million, a price-to-earnings ratio of -4.56 and a beta of 2.06. The business's 50 day moving average price is $4.12 and its 200-day moving average price is $4.41.

Insider Buying and Selling

In related news, EVP Melanie Antoon sold 7,155 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.93, for a total transaction of $28,119.15. Following the completion of the sale, the executive vice president owned 246,679 shares in the company, valued at $969,448.47. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric Friedrichsen sold 118,054 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.93, for a total transaction of $463,952.22. Following the completion of the sale, the chief executive officer owned 1,136,317 shares of the company's stock, valued at $4,465,725.81. The trade was a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,479 shares of company stock worth $575,662 in the last quarter. 16.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LAW. Pilgrim Partners Asia Pte Ltd bought a new position in CS Disco during the 4th quarter worth approximately $43,000. Virtu Financial LLC acquired a new stake in shares of CS Disco in the fourth quarter valued at approximately $54,000. Meeder Asset Management Inc. raised its holdings in shares of CS Disco by 50.7% in the fourth quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company's stock valued at $54,000 after purchasing an additional 3,650 shares during the last quarter. Two Sigma Investments LP acquired a new position in CS Disco during the fourth quarter worth $55,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in CS Disco during the fourth quarter worth $59,000. Institutional investors own 58.05% of the company's stock.

CS Disco Company Profile

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.

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