Michael Lafair Sells 12,042 Shares of CS Disco, Inc. (NYSE:LAW) Stock

CS Disco, Inc. (NYSE:LAW) CFO Michael Lafair sold 12,042 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $5.40, for a total transaction of $65,026.80. Following the transaction, the chief financial officer now owns 781,060 shares of the company’s stock, valued at approximately $4,217,724. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CS Disco Stock Performance

LAW opened at $5.45 on Thursday. The firm has a 50-day moving average price of $5.85 and a 200-day moving average price of $5.85. CS Disco, Inc. has a twelve month low of $4.71 and a twelve month high of $8.80.

CS Disco (NYSE:LAW) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. The company had revenue of $36.27 million for the quarter, compared to analysts’ expectations of $36.33 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that CS Disco, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On CS Disco

Several hedge funds and other institutional investors have recently modified their holdings of LAW. nVerses Capital LLC purchased a new position in CS Disco during the second quarter valued at approximately $36,000. Meeder Asset Management Inc. purchased a new position in shares of CS Disco during the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC bought a new position in shares of CS Disco in the first quarter worth $52,000. Bleakley Financial Group LLC purchased a new stake in shares of CS Disco in the third quarter worth $67,000. Finally, The Manufacturers Life Insurance Company boosted its stake in CS Disco by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock valued at $80,000 after buying an additional 2,871 shares during the period. 58.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LAW. Jefferies Financial Group increased their target price on shares of CS Disco from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of CS Disco in a research report on Thursday, November 7th.

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.