Jane Street Group LLC Trims Stake in CS Disco, Inc. (NYSE:LAW)

Jane Street Group LLC lowered its holdings in CS Disco, Inc. (NYSE:LAW) by 35.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,441 shares of the company’s stock after selling 15,898 shares during the period. Jane Street Group LLC’s holdings in CS Disco were worth $147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAW. Pilgrim Partners Asia Pte Ltd acquired a new position in CS Disco during the 4th quarter worth $43,000. Meeder Asset Management Inc. grew its stake in CS Disco by 50.7% during the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock worth $54,000 after purchasing an additional 3,650 shares in the last quarter. Virtu Financial LLC acquired a new position in CS Disco during the 4th quarter worth $54,000. Price T Rowe Associates Inc. MD acquired a new position in CS Disco during the 4th quarter worth $59,000. Finally, Raymond James Financial Inc. acquired a new position in CS Disco during the 4th quarter worth $60,000. Hedge funds and other institutional investors own 58.05% of the company’s stock.

CS Disco Stock Up 5.6%

LAW opened at $4.45 on Friday. The business has a 50 day moving average price of $3.80 and a two-hundred day moving average price of $4.66. The company has a market cap of $270.29 million, a PE ratio of -4.83 and a beta of 2.04. CS Disco, Inc. has a 52 week low of $3.31 and a 52 week high of $6.64.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of CS Disco in a research report on Thursday, May 8th.

Insider Transactions at CS Disco

In related news, CEO Eric Friedrichsen sold 118,054 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $3.93, for a total value of $463,952.22. Following the sale, the chief executive officer now owns 1,136,317 shares in the company, valued at $4,465,725.81. This represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Lafair sold 15,395 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $3.93, for a total value of $60,502.35. Following the sale, the executive vice president now owns 841,734 shares in the company, valued at approximately $3,308,014.62. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,479 shares of company stock valued at $575,662. Corporate insiders own 16.10% of the company’s stock.

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.