Raymond James Financial Inc. Makes New Investment in CS Disco, Inc. (NYSE:LAW)

Raymond James Financial Inc. acquired a new stake in CS Disco, Inc. (NYSE:LAW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,000 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. R Squared Ltd acquired a new stake in CS Disco in the fourth quarter worth approximately $47,000. SG Americas Securities LLC bought a new stake in shares of CS Disco in the 4th quarter worth $65,000. Rhumbline Advisers raised its stake in shares of CS Disco by 8.8% in the 4th quarter. Rhumbline Advisers now owns 41,156 shares of the company’s stock worth $205,000 after buying an additional 3,326 shares in the last quarter. Barclays PLC lifted its holdings in shares of CS Disco by 291.1% in the third quarter. Barclays PLC now owns 40,919 shares of the company’s stock valued at $241,000 after buying an additional 30,456 shares during the period. Finally, Jane Street Group LLC boosted its stake in CS Disco by 44.2% during the third quarter. Jane Street Group LLC now owns 45,339 shares of the company’s stock valued at $267,000 after buying an additional 13,894 shares in the last quarter. 58.05% of the stock is currently owned by institutional investors.

CS Disco Price Performance

Shares of CS Disco stock opened at $3.50 on Monday. The firm has a market cap of $211.04 million, a price-to-earnings ratio of -3.80 and a beta of 2.04. The stock has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $5.23. CS Disco, Inc. has a 52-week low of $3.42 and a 52-week high of $8.20.

CS Disco (NYSE:LAW) last posted its earnings results on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 business had revenue of $37.00 million for the quarter, compared to analyst estimates of $36.03 million. As a group, equities research analysts predict that CS Disco, Inc. will post -0.64 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of CS Disco in a research note on Friday, February 21st. Jefferies Financial Group dropped their price target on CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Monday, January 6th.

Insider Activity

In related news, CFO Michael Lafair sold 13,146 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the transaction, the chief financial officer now directly owns 865,793 shares in the company, valued at $4,493,465.67. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 22,995 shares of company stock valued at $118,818. 15.60% of the stock is owned by company insiders.

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.