CS Disco (NYSE:LAW) Stock: Insider Eric Friedrichsen Purchases 4,490 Shares

Key Points

• CEO Eric Friedrichsen bought 4,490 shares at an average price of $5.45, spending about $24,471. After the purchase, he owned 1,441,178 shares.
• CS Disco shares fell 1.5% to $5.58 in Monday trading, valuing the company at about $362 million.
• Analysts’ consensus rating is Hold, with an average price target of $8.00; ratings include two Buys, one Hold, and one Sell.

CS Disco, Inc. (NYSE:LAW - Get Free Report) CEO Eric Friedrichsen bought 4,490 shares of CS Disco stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $5.45 per share, for a total transaction of $24,470.50. Following the purchase, the chief executive officer owned 1,441,178 shares of the company's stock, valued at approximately $7,854,420.10. This trade represents a 0.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CS Disco Trading Down 1.5%

Shares of LAW stock traded down $0.09 during trading hours on Monday, reaching $5.58. 228,762 shares of the stock were exchanged, compared to its average volume of 241,353. CS Disco, Inc. has a 12-month low of $2.45 and a 12-month high of $9.11. The company's 50-day moving average price is $4.55 and its 200-day moving average price is $4.20. The firm has a market capitalization of $361.93 million, a price-to-earnings ratio of -11.38 and a beta of 1.80.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in shares of CS Disco in the second quarter valued at approximately $75,000. Bank of America Corp DE purchased a new position in CS Disco during the 2nd quarter worth $83,000. Public Employees Retirement System of Ohio increased its holdings in CS Disco by 151.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,735 shares of the company's stock worth $87,000 after purchasing an additional 13,700 shares during the period. Corient Private Wealth LP bought a new stake in CS Disco during the 2nd quarter valued at $95,000. Finally, Algert Global LLC raised its position in CS Disco by 18.3% during the 2nd quarter. Algert Global LLC now owns 28,120 shares of the company's stock valued at $106,000 after purchasing an additional 4,350 shares in the last quarter. Hedge funds and other institutional investors own 58.05% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of CS Disco in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.00.

About CS Disco

CS Disco, Inc NYSE: LAW is a legal technology company that provides cloud-based software and services for law firms, corporations and government organizations. Its platform is designed to help legal teams manage litigation and investigations, organize large volumes of data and streamline document-intensive legal workflows.

The company's products support electronic discovery, including the collection, processing, hosting, review and analysis of electronically stored information. DISCO's technology uses automation and artificial intelligence to assist with tasks such as document review, information retrieval and case preparation.

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