BlackRock Inc. Invests $7.62 Million in CS Disco, Inc. $LAW

BlackRock Inc. bought a new position in CS Disco, Inc. (NYSE:LAW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,015,188 shares of the company's stock, valued at approximately $7,617,000. BlackRock Inc. owned approximately 3.14% of CS Disco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LAW. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CS Disco by 1.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 205,372 shares of the company's stock valued at $1,327,000 after purchasing an additional 2,045 shares during the last quarter. PDT Partners LLC grew its stake in CS Disco by 7.6% during the 2nd quarter. PDT Partners LLC now owns 33,795 shares of the company's stock worth $148,000 after buying an additional 2,388 shares during the last quarter. Jane Street Group LLC grew its stake in CS Disco by 5.9% during the 2nd quarter. Jane Street Group LLC now owns 47,260 shares of the company's stock worth $207,000 after buying an additional 2,632 shares during the last quarter. Bank of America Corp DE increased its position in CS Disco by 11.6% during the 1st quarter. Bank of America Corp DE now owns 26,015 shares of the company's stock valued at $99,000 after buying an additional 2,701 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in 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 buying an additional 4,639 shares during the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

CS Disco Stock Performance

NYSE:LAW opened at $4.25 on Friday. The stock has a market capitalization of $275.91 million, a PE ratio of -6.75 and a beta of 1.88. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The company has a fifty day moving average of $4.11 and a two-hundred day moving average of $3.94.

CS Disco (NYSE:LAW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, hitting 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 firm had revenue of $43.15 million during the quarter, compared to the consensus estimate of $43.10 million.

Insider Transactions at CS Disco

In other news, EVP Karen Herckis sold 8,487 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $35,475.66. Following the transaction, the executive vice president directly owned 181,824 shares in the company, valued at $760,024.32. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric Friedrichsen purchased 7,500 shares of the company's stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $4.26 per share, with a total value of $31,950.00. Following the completion of the transaction, the chief executive officer directly owned 1,481,180 shares of the company's stock, valued at approximately $6,309,826.80. This represents a 0.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 31,267 shares of company stock valued at $130,696. Company insiders own 16.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LAW. Wall Street Zen downgraded CS Disco from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.00.

CS Disco 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.

Want to see what other hedge funds are holding LAW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CS Disco, Inc. (NYSE:LAW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source