Solel Partners LP lessened its position in CS Disco, Inc. (NYSE:LAW - Free Report) by 23.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,148,734 shares of the company's stock after selling 343,547 shares during the period. CS Disco makes up 1.1% of Solel Partners LP's holdings, making the stock its 18th largest position. Solel Partners LP owned about 1.92% of CS Disco worth $5,732,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Topline Capital Management LLC purchased a new stake in shares of CS Disco in the 4th quarter valued at approximately $9,530,000. Norges Bank acquired a new stake in shares of CS Disco in the fourth quarter worth $8,854,000. Formula Growth Ltd. grew its holdings in shares of CS Disco by 23.0% during the fourth quarter. Formula Growth Ltd. now owns 750,000 shares of the company's stock valued at $3,742,000 after buying an additional 140,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in CS Disco by 457.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company's stock valued at $746,000 after buying an additional 122,703 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in CS Disco by 104.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company's stock worth $1,169,000 after acquiring an additional 101,391 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company's stock.
CS Disco Stock Performance
Shares of CS Disco stock traded down $0.11 during midday trading on Tuesday, reaching $3.54. 45,273 shares of the company's stock traded hands, compared to its average volume of 159,338. CS Disco, Inc. has a 52 week low of $3.31 and a 52 week high of $8.20. The company's 50 day simple moving average is $4.04 and its 200 day simple moving average is $4.96. The company has a market cap of $215.08 million, a price-to-earnings ratio of -3.84 and a beta of 2.05.
CS Disco (NYSE:LAW - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. The company had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.03 million. As a group, equities research analysts predict that CS Disco, Inc. will post -0.64 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Michael Lafair sold 13,146 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the completion of the sale, the chief financial officer now owns 865,793 shares in the company, valued at $4,493,465.67. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 22,995 shares of company stock valued at $118,818. Company insiders own 15.60% of the company's stock.
Analysts Set New Price Targets
LAW has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price target on shares of CS Disco from $6.00 to $5.50 and set a "hold" rating for the company in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of CS Disco in a research note on Friday, February 21st.
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About CS Disco
(
Free Report)
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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