CS Disco, Inc. $LAW Shares Acquired by Topline Capital Management LLC

Key Points

• Topline Capital Management increased its stake in CS Disco by 8.1% to 3,206,003 shares (about 5.13% of the company), making LAW its 10th-largest holding, and institutional investors now own roughly 58.05% of the stock.
• Insider activity was mixed: CEO Eric Friedrichsen bought 15,500 shares at $2.90 (raising his stake to 1,508,172 shares) while EVP Melanie Antoon sold 9,289 shares at $3.07; company insiders collectively own about 16.10% of CS Disco and were net buyers over the last quarter.
• Shares trade near $4.49 (market cap ~$284M) and analysts' consensus is a Hold with an average target price of $8.00, while the 12‑month range is $2.45–$9.11.

Topline Capital Management LLC increased its holdings in shares of CS Disco, Inc. (NYSE:LAW - Free Report) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,206,003 shares of the company's stock after buying an additional 240,735 shares during the quarter. CS Disco accounts for approximately 3.6% of Topline Capital Management LLC's holdings, making the stock its 10th biggest position. Topline Capital Management LLC owned approximately 5.13% of CS Disco worth $20,711,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LAW. Essex Investment Management Co. LLC acquired a new stake in CS Disco during the 3rd quarter worth about $2,868,000. Los Angeles Capital Management LLC purchased a new position in CS Disco during the 2nd quarter valued at about $324,000. Norges Bank acquired a new position in shares of CS Disco in the 2nd quarter valued at about $2,863,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of CS Disco in the second quarter worth approximately $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CS Disco by 20.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,782 shares of the company's stock worth $877,000 after purchasing an additional 34,406 shares in the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

CS Disco Stock Performance

Shares of LAW opened at $4.49 on Friday. The firm has a market cap of $284.04 million, a PE ratio of -6.23 and a beta of 2.15. The firm's 50 day moving average price is $5.10 and its 200 day moving average price is $6.19. CS Disco, Inc. has a twelve month low of $2.45 and a twelve month high of $9.11.

Analysts Set New Price Targets

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

Insider Activity at CS Disco

In other CS Disco news, EVP Melanie Antoon sold 9,289 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $3.07, for a total transaction of $28,517.23. Following the transaction, the executive vice president directly owned 203,421 shares of the company's stock, valued at $624,502.47. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Friedrichsen bought 15,500 shares of the stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $44,950.00. Following the completion of the transaction, the chief executive officer directly owned 1,508,172 shares of the company's stock, valued at approximately $4,373,698.80. The trade was a 1.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 1,090,200 shares of company stock worth $3,475,943 and have sold 27,711 shares worth $85,073. Company insiders own 16.10% 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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