CS Disco (NYSE:LAW) Downgraded to “Hold” Rating by Wall Street Zen

CS Disco (NYSE:LAW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

LAW has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of CS Disco in a report on Thursday. Jefferies Financial Group increased their target price on CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Monday, January 5th. Finally, Canaccord Genuity Group cut their price target on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

CS Disco Price Performance

Shares of NYSE:LAW opened at $3.25 on Friday. CS Disco has a one year low of $2.45 and a one year high of $9.11. The company has a market cap of $203.35 million, a price-to-earnings ratio of -4.52 and a beta of 2.08. The firm has a 50 day simple moving average of $5.82 and a 200 day simple moving average of $6.23.

Insider Buying and Selling at CS Disco

In other CS Disco news, EVP Melanie Antoon sold 9,289 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total value of $28,517.23. Following the sale, the executive vice president owned 203,421 shares in the company, valued at approximately $624,502.47. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Karen Herckis sold 8,171 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total value of $25,084.97. Following the transaction, the executive vice president owned 132,259 shares of the company’s stock, valued at $406,035.13. This trade represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,711 shares of company stock valued at $85,073. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of CS Disco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new position in shares of CS Disco in the 3rd quarter worth approximately $2,868,000. Los Angeles Capital Management LLC acquired a new stake in shares of CS Disco during the second quarter worth $324,000. Norges Bank bought a new position in CS Disco during the second quarter worth $2,863,000. Campbell & CO Investment Adviser LLC acquired a new position in CS Disco in the second quarter valued at $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CS Disco by 20.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,782 shares of the company’s stock valued at $877,000 after buying an additional 34,406 shares during the period. Institutional investors and hedge funds own 58.05% of the company’s stock.

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.