Insider Selling: CS Disco (NYSE:LAW) EVP Sells $31,040.68 in Stock

Key Points

• CS Disco EVP Richard Francis Crum sold 7,426 shares at an average price of $4.18, generating $31,040.68. The sale covered tax-withholding obligations tied to vested equity awards and reduced his position by 2.17% to 335,183 shares.
• CS Disco recently reported quarterly revenue of $43.15 million and an adjusted EPS loss of $0.06, matching analyst expectations. The company continues to post negative profitability metrics, including a net margin of -24.20%.
• Shares traded at $4.38, while analysts maintain a consensus “Hold” rating and an average price target of $8.00; institutional investors own 58.05% of the stock.

CS Disco, Inc. (NYSE:LAW - Get Free Report) EVP Richard Francis Crum sold 7,426 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $4.18, for a total transaction of $31,040.68. Following the completion of the transaction, the executive vice president directly owned 335,183 shares of the company's stock, valued at $1,401,064.94. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CS Disco Stock Performance

NYSE LAW traded down $0.04 during trading on Wednesday, reaching $4.38. 277,412 shares of the company traded hands, compared to its average volume of 345,653. The stock's 50 day moving average price is $3.91 and its two-hundred day moving average price is $3.98. The company has a market cap of $284.02 million, a price-to-earnings ratio of -6.94 and a beta of 1.90. CS Disco, Inc. has a 1-year low of $2.45 and a 1-year high of $9.11.

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

Institutional Investors Weigh In On CS Disco

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in CS Disco during the 1st quarter valued at $216,000. Jane Street Group LLC boosted its stake in CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company's stock worth $183,000 after purchasing an additional 15,187 shares in the last quarter. Acadian Asset Management LLC acquired a new position in CS Disco in the first quarter worth $195,000. XTX Topco Ltd bought a new stake in shares of CS Disco during the second quarter worth $139,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of CS Disco during the second quarter worth $75,000. 58.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LAW. Weiss Ratings raised shares of CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. Wall Street Zen downgraded shares of CS Disco from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source