Arrowstreet Capital Limited Partnership Invests $67,000 in CS Disco, Inc. (NYSE:LAW)

Arrowstreet Capital Limited Partnership purchased a new stake in shares of CS Disco, Inc. (NYSE:LAW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,349 shares of the company’s stock, valued at approximately $67,000.

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

Insider Activity

In other news, CFO Michael Lafair sold 13,146 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $4,493,465.67. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 22,995 shares of company stock worth $118,818 over the last 90 days. 15.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on LAW. Jefferies Financial Group dropped their target price on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of CS Disco in a report on Friday, February 21st.

CS Disco Trading Down 2.0 %

Shares of NYSE:LAW opened at $3.44 on Tuesday. CS Disco, Inc. has a 12-month low of $3.37 and a 12-month high of $8.20. The stock has a market capitalization of $207.72 million, a price-to-earnings ratio of -3.74 and a beta of 2.04. The stock has a fifty day simple moving average of $4.53 and a two-hundred day simple moving average of $5.21.

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