Eric Friedrichsen Acquires 7,500 Shares of CS Disco (NYSE:LAW) Stock

Key Points

• CEO Eric Friedrichsen purchased 7,500 CS Disco shares at an average price of $4.26, investing $31,950 and increasing his direct holdings by 0.51% to 1.48 million shares.
• CS Disco shares recently traded near $4.22, well below their 52-week high of $9.11. The company reported a quarterly loss of $0.06 per share and revenue of $43.15 million, largely in line with analyst expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.00; institutional investors own approximately 58.05% of the company.

CS Disco, Inc. (NYSE:LAW - Get Free Report) CEO Eric Friedrichsen bought 7,500 shares of the firm's stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $4.26 per share, with a total value of $31,950.00. Following the transaction, the chief executive officer directly owned 1,481,180 shares in the company, valued at approximately $6,309,826.80. This trade represents a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CS Disco Stock Performance

Shares of NYSE:LAW traded up $0.05 during trading on Tuesday, reaching $4.22. The stock had a trading volume of 246,661 shares, compared to its average volume of 348,923. CS Disco, Inc. has a 52 week low of $2.45 and a 52 week high of $9.11. The firm's fifty day moving average is $3.84 and its 200 day moving average is $4.07. The stock has a market cap of $274.09 million, a price-to-earnings ratio of -6.70 and a beta of 1.90.

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

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in CS Disco by 87.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company's stock valued at $44,000 after buying an additional 4,639 shares in the last quarter. Abel Hall LLC acquired a new stake in CS Disco in the first quarter valued at approximately $57,000. Algert Global LLC acquired a new stake in CS Disco in the third quarter valued at approximately $70,000. Deutsche Bank AG bought a new stake in shares of CS Disco during the second quarter valued at approximately $75,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of CS Disco during the second quarter valued at approximately $75,000. Institutional investors own 58.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAW. Weiss Ratings raised CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. Wall Street Zen cut CS Disco from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.00.

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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