CS Disco, Inc. $LAW Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in CS Disco, Inc. (NYSE:LAW) by 66.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,115 shares of the company’s stock after selling 971,342 shares during the quarter. Franklin Resources Inc.’s holdings in CS Disco were worth $2,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LAW. Nuveen LLC purchased a new stake in CS Disco in the first quarter valued at approximately $200,000. Whetstone Capital Advisors LLC purchased a new position in CS Disco during the first quarter worth approximately $761,000. Los Angeles Capital Management LLC acquired a new position in shares of CS Disco in the 2nd quarter valued at $324,000. Strs Ohio purchased a new stake in shares of CS Disco during the 1st quarter valued at $216,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of CS Disco during the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

Analyst Ratings Changes

LAW has been the topic of a number of research analyst reports. Wall Street Zen upgraded CS Disco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Needham & Company LLC raised their price objective on CS Disco from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.75.

Insider Transactions at CS Disco

In other news, Director Thomas F. Bogan acquired 7,001 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $5.98 per share, for a total transaction of $41,865.98. Following the completion of the purchase, the director directly owned 171,090 shares of the company’s stock, valued at approximately $1,023,118.20. This trade represents a 4.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 93,500 shares of company stock valued at $552,604 over the last three months. 16.10% of the stock is owned by company insiders.

CS Disco Price Performance

Shares of LAW opened at $7.32 on Thursday. CS Disco, Inc. has a 12 month low of $3.31 and a 12 month high of $7.50. The stock’s 50-day moving average is $6.58 and its two-hundred day moving average is $5.32. The stock has a market cap of $457.11 million, a PE ratio of -7.24 and a beta of 2.10.

CS Disco (NYSE:LAW) last announced its earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. The business had revenue of $40.92 million for the quarter, compared to the consensus estimate of $38.52 million. CS Disco had a negative return on equity of 26.05% and a negative net margin of 40.00%. On average, research analysts anticipate that CS Disco, Inc. will post -0.64 earnings per share for the current year.

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.