Topline Capital Management LLC Sells 125,607 Shares of CS Disco, Inc. $LAW

Key Points

• Topline Capital Management LLC has reduced its stake in CS Disco, Inc. by 6.6%, selling 125,607 shares, while still holding 1,784,222 shares in total.
• Analysts have set a new price target for CS Disco at $8.00 with a general rating of "Moderate Buy."
• Recent insider activity includes sales of 20,521 shares by two executives at an average price of $4.82, reflecting a decrease in their ownership.

Topline Capital Management LLC decreased its position in CS Disco, Inc. (NYSE:LAW - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,784,222 shares of the company's stock after selling 125,607 shares during the period. CS Disco accounts for 1.7% of Topline Capital Management LLC's investment portfolio, making the stock its 15th biggest holding. Topline Capital Management LLC owned 2.93% of CS Disco worth $7,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new stake in CS Disco in the 4th quarter valued at about $55,000. Price T Rowe Associates Inc. MD bought a new position in shares of CS Disco during the 4th quarter valued at approximately $59,000. Raymond James Financial Inc. bought a new position in shares of CS Disco during the 4th quarter valued at approximately $60,000. Two Sigma Advisers LP bought a new position in shares of CS Disco during the 4th quarter valued at approximately $86,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of CS Disco during the 4th quarter valued at approximately $88,000. Hedge funds and other institutional investors own 58.05% of the company's stock.

CS Disco Stock Down 2.7%

LAW traded down $0.15 on Tuesday, hitting $5.32. The company's stock had a trading volume of 32,062 shares, compared to its average volume of 135,078. The company's 50 day simple moving average is $4.49 and its 200-day simple moving average is $4.26. The firm has a market cap of $328.46 million, a P/E ratio of -5.66 and a beta of 2.08. CS Disco, Inc. has a 12 month low of $3.31 and a 12 month high of $6.64.

Insider Buying and Selling at CS Disco

In related news, EVP Karen Herckis sold 5,677 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $4.82, for a total value of $27,363.14. Following the completion of the transaction, the executive vice president directly owned 146,256 shares of the company's stock, valued at approximately $704,953.92. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melanie Antoon sold 6,898 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $4.82, for a total transaction of $33,248.36. Following the completion of the transaction, the executive vice president directly owned 239,781 shares of the company's stock, valued at approximately $1,155,744.42. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,971 shares of company stock valued at $183,020 in the last quarter. Corporate insiders own 16.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of CS Disco in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.75.

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.