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

Arrowstreet Capital Limited Partnership acquired a new stake in shares of CS Disco, Inc. (NYSE:LAW) during the fourth quarter, HoldingsChannel reports. The fund acquired 13,349 shares of the company’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CS Disco during the 4th quarter valued at about $8,854,000. Connor Clark & Lunn Investment Management Ltd. grew its position in CS Disco by 457.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company’s stock valued at $746,000 after buying an additional 122,703 shares during the period. JPMorgan Chase & Co. increased its holdings in CS Disco by 104.1% during the third quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company’s stock valued at $1,169,000 after buying an additional 101,391 shares during the last quarter. Franklin Resources Inc. raised its position in CS Disco by 2.0% in the third quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock worth $10,710,000 after acquiring an additional 34,351 shares during the period. Finally, Barclays PLC boosted its stake in shares of CS Disco by 291.1% during the 3rd quarter. Barclays PLC now owns 40,919 shares of the company’s stock worth $241,000 after acquiring an additional 30,456 shares during the last quarter. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LAW. Jefferies Financial Group decreased their target price on 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 target on shares of CS Disco in a research report on Friday, February 21st.

Insider Transactions at CS Disco

In other news, CFO Michael Lafair sold 13,146 shares of CS Disco stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $5.19, for a total transaction of $68,227.74. Following the sale, the chief financial officer now owns 865,793 shares in the company, valued at $4,493,465.67. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 22,995 shares of company stock valued at $118,818 over the last 90 days. Company insiders own 15.60% of the company’s stock.

CS Disco Price Performance

LAW opened at $3.44 on Tuesday. The company has a 50 day simple moving average of $4.53 and a two-hundred day simple moving average of $5.21. The firm has a market cap of $207.72 million, a P/E ratio of -3.74 and a beta of 2.04. CS Disco, Inc. has a 1-year low of $3.37 and a 1-year high of $8.20.

CS Disco (NYSE:LAW) last released its earnings results 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 net margin of 38.51% and a negative return on equity of 22.30%. The firm had revenue of $37.00 million for the quarter, compared to analysts’ expectations of $36.03 million. Equities analysts anticipate that CS Disco, Inc. will post -0.64 earnings per share 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.