Sherbrooke Park Advisers LLC Lowers Position in CS Disco, Inc. (NYSE:LAW)

by · The Markets Daily

Sherbrooke Park Advisers LLC cut its holdings in shares of CS Disco, Inc. (NYSE:LAW – Free Report) by 56.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,667 shares of the company’s stock after selling 39,304 shares during the quarter. Sherbrooke Park Advisers LLC owned about 0.05% of CS Disco worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Topline Capital Management LLC purchased a new position in shares of CS Disco during the 4th quarter worth $9,530,000. Norges Bank acquired a new position in CS Disco during the fourth quarter worth $8,854,000. Formula Growth Ltd. lifted its stake in CS Disco by 23.0% during the fourth quarter. Formula Growth Ltd. now owns 750,000 shares of the company’s stock worth $3,742,000 after purchasing an additional 140,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CS Disco by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 727,192 shares of the company’s stock worth $3,629,000 after purchasing an additional 41,631 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in CS Disco by 37.0% during the fourth quarter. JPMorgan Chase & Co. now owns 272,250 shares of the company’s stock worth $1,359,000 after purchasing an additional 73,504 shares in the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on CS Disco

Insider Buying and Selling

In other news, CEO Eric Friedrichsen sold 118,054 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $3.93, for a total transaction of $463,952.22. Following the completion of the transaction, the chief executive officer now directly owns 1,136,317 shares of the company’s stock, valued at approximately $4,465,725.81. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Melanie Antoon sold 7,155 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $3.93, for a total value of $28,119.15. Following the transaction, the executive vice president now directly owns 246,679 shares of the company’s stock, valued at approximately $969,448.47. This represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,050 shares of company stock valued at $609,240 in the last ninety days. Company insiders own 16.10% of the company’s stock.

CS Disco Stock Down 0.6%

Shares of LAW opened at $3.88 on Thursday. CS Disco, Inc. has a fifty-two week low of $3.31 and a fifty-two week high of $6.64. The firm’s 50 day moving average price is $3.88 and its 200 day moving average price is $4.81. The company has a market cap of $235.63 million, a P/E ratio of -4.21 and a beta of 2.05.

CS Disco (NYSE:LAW – Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share 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 analysts’ expectations of $36.03 million. Research analysts forecast that CS Disco, Inc. will post -0.64 earnings per share for the current year.

CS Disco Company Profile

(Free Report)

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.

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