GSA Capital Partners LLP Invests $879,000 in CS Disco, Inc. $LAW

Key Points

• GSA Capital Partners purchased 232,563 CS Disco shares worth approximately $879,000, representing about 0.36% of the company. Institutional investors collectively own 58.05% of LAW.
• CEO Eric Friedrichsen bought 7,500 shares for $31,950, while insiders own 16.80% of the company.
• Analysts give CS Disco an average “Hold” rating with an $8.00 target price. The company met quarterly EPS expectations at a loss of $0.06 per share and reported $43.15 million in revenue.

GSA Capital Partners LLP bought a new position in shares of CS Disco, Inc. (NYSE:LAW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 232,563 shares of the company's stock, valued at approximately $879,000. GSA Capital Partners LLP owned about 0.36% of CS Disco as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in CS Disco by 1.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 205,372 shares of the company's stock worth $1,327,000 after purchasing an additional 2,045 shares in the last quarter. PDT Partners LLC lifted its position in shares of CS Disco by 7.6% in the second quarter. PDT Partners LLC now owns 33,795 shares of the company's stock worth $148,000 after buying an additional 2,388 shares in the last quarter. Jane Street Group LLC lifted its position in shares of CS Disco by 5.9% in the second 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 in the last quarter. Bank of America Corp DE grew its holdings 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 grew its holdings in CS Disco by 87.1% during 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. 58.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Eric Friedrichsen purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the transaction, the chief executive officer directly owned 1,481,180 shares in the company, valued at $6,309,826.80. This represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 16.80% of the company's stock.

Analyst Ratings Changes

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

CS Disco Price Performance

Shares of NYSE LAW opened at $4.42 on Wednesday. The business's 50 day moving average is $3.91 and its two-hundred day moving average is $3.98. CS Disco, Inc. has a 1-year low of $2.45 and a 1-year high of $9.11. The stock has a market capitalization of $286.62 million, a P/E ratio of -7.01 and a beta of 1.90.

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

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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