Canaccord Genuity Group Cuts CS Disco (NYSE:LAW) Price Target to $6.00

CS Disco (NYSE:LAW) had its price objective reduced by Canaccord Genuity Group from $9.00 to $6.00 in a research report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

LAW has been the subject of a number of other research reports. Jefferies Financial Group upped their price objective on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Monday, January 5th. Wall Street Zen upgraded CS Disco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CS Disco in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.00.

CS Disco Stock Performance

Shares of NYSE:LAW opened at $3.25 on Thursday. CS Disco has a 52 week low of $2.45 and a 52 week high of $9.11. The company has a market capitalization of $206.08 million, a PE ratio of -4.52 and a beta of 2.08. The company has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $6.24.

Insider Activity

In other CS Disco news, EVP Melanie Antoon sold 9,289 shares of the business’s stock in a transaction that occurred on 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 legal 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 that occurred on Tuesday, February 17th. The stock was sold at an average price of $3.07, for a total transaction of $25,084.97. Following the transaction, the executive vice president directly owned 132,259 shares of the company’s stock, valued at $406,035.13. This represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,711 shares of company stock valued at $85,073 over the last ninety days. 16.10% of the stock is owned by insiders.

Institutional Trading of CS Disco

Institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC bought a new position in CS Disco in the third quarter valued at approximately $2,868,000. Los Angeles Capital Management LLC acquired a new stake in shares of CS Disco in the 2nd quarter valued at approximately $324,000. Norges Bank bought a new position in shares of CS Disco in the second quarter valued at $2,863,000. Campbell & CO Investment Adviser LLC bought a new position in shares of CS Disco in the second quarter valued at $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in CS Disco by 20.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,782 shares of the company’s stock worth $877,000 after buying an additional 34,406 shares during the last quarter. Institutional investors own 58.05% of the company’s stock.

About CS Disco

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.