Insider Buying: CS Disco (NYSE:LAW) Director Purchases 6,929 Shares of Stock

Key Points

• Thomas Bogan, a director at CS Disco, purchased 6,929 shares of the company's stock for a total of approximately $41,435, increasing his ownership by 4.41%.
• CS Disco's stock has a current price of $6.08 and a market capitalization of $375.07 million, with analysts giving it a consensus rating of "Hold" and a price target of $6.75.
• Institutional investors have expanded their stakes in CS Disco, with Topline Capital Management increasing its ownership by 66.2% in the second quarter alone.

CS Disco, Inc. (NYSE:LAW - Get Free Report) Director Thomas Bogan acquired 6,929 shares of the firm's stock in a transaction dated Monday, October 20th. The shares were purchased at an average price of $5.98 per share, for a total transaction of $41,435.42. Following the completion of the transaction, the director directly owned 164,089 shares in the company, valued at approximately $981,252.22. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

CS Disco Price Performance

Shares of LAW stock traded up $0.03 on Tuesday, hitting $6.08. 114,087 shares of the stock traded hands, compared to its average volume of 135,943. The firm has a market cap of $375.07 million, a price-to-earnings ratio of -6.46 and a beta of 2.12. CS Disco, Inc. has a 52 week low of $3.31 and a 52 week high of $6.81. The firm has a 50 day simple moving average of $5.79 and a two-hundred day simple moving average of $4.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of CS Disco in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.75.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently made changes to their positions in LAW. Topline Capital Management LLC grew its stake in shares of CS Disco by 66.2% in the 2nd quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company's stock worth $12,958,000 after buying an additional 1,181,046 shares in the last quarter. Norges Bank purchased a new position in shares of CS Disco during the 2nd quarter worth about $2,863,000. Whetstone Capital Advisors LLC purchased a new stake in CS Disco in the 1st quarter valued at about $761,000. Bridgeway Capital Management LLC boosted its position in CS Disco by 50.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 243,652 shares of the company's stock valued at $1,065,000 after buying an additional 81,500 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in CS Disco in the 2nd quarter valued at about $324,000. 58.05% of the stock is owned by hedge funds and other institutional investors.

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.

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