Norges Bank Acquires Shares of 1,774,256 CS Disco, Inc. (NYSE:LAW)

Norges Bank bought a new position in shares of CS Disco, Inc. (NYSE:LAW) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,774,256 shares of the company’s stock, valued at approximately $8,854,000. Norges Bank owned 2.96% of CS Disco at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAW. R Squared Ltd purchased a new stake in CS Disco in the 4th quarter worth $47,000. Virtu Financial LLC acquired a new position in shares of CS Disco during the 4th quarter worth about $54,000. Raymond James Financial Inc. purchased a new position in CS Disco in the 4th quarter valued at about $60,000. SG Americas Securities LLC acquired a new stake in CS Disco in the 4th quarter worth about $65,000. Finally, Intech Investment Management LLC purchased a new stake in CS Disco during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael Lafair sold 13,146 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total value of $68,227.74. Following the transaction, the chief financial officer now directly owns 865,793 shares in the company, valued at approximately $4,493,465.67. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 22,995 shares of company stock worth $118,818. Insiders own 15.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LAW. 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. Jefferies Financial Group lowered their target price on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a research note on Monday, January 6th.

CS Disco Price Performance

Shares of CS Disco stock opened at $3.54 on Wednesday. The stock’s 50 day simple moving average is $4.68 and its 200-day simple moving average is $5.29. The stock has a market cap of $213.76 million, a P/E ratio of -3.85 and a beta of 2.04. CS Disco, Inc. has a 1-year low of $3.52 and a 1-year high of $8.57.

CS Disco (NYSE:LAW) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $36.03 million. As a group, research analysts expect that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.

CS Disco 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.