Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in CS Disco, Inc. (NYSE:LAW)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CS Disco, Inc. (NYSE:LAW) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,778 shares of the company’s stock after purchasing an additional 3,600 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CS Disco were worth $120,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of CS Disco during the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its position in CS Disco by 45.2% during the third quarter. Venturi Wealth Management LLC now owns 7,260 shares of the company’s stock worth $48,000 after acquiring an additional 2,260 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of CS Disco in the third quarter valued at approximately $67,000. Fox Run Management L.L.C. purchased a new position in shares of CS Disco during the 3rd quarter worth approximately $73,000. Finally, Worth Venture Partners LLC acquired a new position in shares of CS Disco during the 3rd quarter worth approximately $89,000. 58.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the transaction, the chief financial officer now owns 826,345 shares in the company, valued at $5,635,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.30% of the company’s stock.

CS Disco Stock Performance

LAW opened at $8.03 on Friday. The stock has a market capitalization of $487.10 million, a PE ratio of -11.31 and a beta of 2.23. The company’s 50 day simple moving average is $7.64 and its 200 day simple moving average is $7.27. CS Disco, Inc. has a 1 year low of $5.07 and a 1 year high of $10.77.

CS Disco (NYSE:LAW) last issued its earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $34.94 million. As a group, sell-side analysts expect that CS Disco, Inc. will post -0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on CS Disco in a research report on Monday, March 25th. They set a “neutral” rating and a $9.00 price target for the company. Piper Sandler lifted their price target on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of CS Disco in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.31.

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.