CS Disco (NYSE:LAW) Shares Down 2.3% - Should You Sell?

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

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of CS Disco in a report on Thursday, May 8th.

CS Disco Stock Performance

The company has a market cap of $248.90 million, a price-to-earnings ratio of -4.35 and a beta of 2.06. The stock's fifty day moving average is $4.12 and its two-hundred day moving average is $4.41.

Insider Activity

In other CS Disco news, CEO Eric Friedrichsen sold 118,054 shares of CS Disco stock in a transaction on Monday, May 19th. The shares were sold at an average price of $3.93, for a total transaction of $463,952.22. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Lafair sold 15,395 shares of CS Disco stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $3.93, for a total transaction of $60,502.35. Following the transaction, the executive vice president directly owned 841,734 shares in the company, valued at approximately $3,308,014.62. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,479 shares of company stock worth $575,662 over the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CS Disco

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