Connor Clark & Lunn Investment Management Ltd. Increases Holdings in CS Disco, Inc. (NYSE:LAW)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in CS Disco, Inc. (NYSE:LAW - Free Report) by 457.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,531 shares of the company's stock after purchasing an additional 122,703 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of CS Disco worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LAW. R Squared Ltd purchased a new stake in CS Disco during the 4th quarter valued at $47,000. Raymond James Financial Inc. purchased a new stake in shares of CS Disco during the fourth quarter valued at $60,000. SG Americas Securities LLC bought a new stake in CS Disco in the 4th quarter worth about $65,000. Rhumbline Advisers raised its position in CS Disco by 8.8% in the 4th quarter. Rhumbline Advisers now owns 41,156 shares of the company's stock worth $205,000 after buying an additional 3,326 shares during the last quarter. Finally, Barclays PLC lifted its stake in CS Disco by 291.1% during the 3rd quarter. Barclays PLC now owns 40,919 shares of the company's stock valued at $241,000 after acquiring an additional 30,456 shares during the period. Institutional investors own 58.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group reduced their price target on shares of CS Disco from $6.00 to $5.50 and set a "hold" rating for the company in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of CS Disco in a research report on Friday, February 21st.

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Insider Activity at CS Disco

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of the firm's 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 approximately $4,493,465.67. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 22,995 shares of company stock worth $118,818. Corporate insiders own 15.60% of the company's stock.

CS Disco Stock Performance

Shares of NYSE LAW traded down $0.03 during midday trading on Tuesday, hitting $4.48. 50,319 shares of the company's stock traded hands, compared to its average volume of 185,738. The firm has a fifty day moving average of $4.92 and a 200 day moving average of $5.42. CS Disco, Inc. has a 1 year low of $4.19 and a 1 year high of $8.57. The stock has a market capitalization of $270.52 million, a price-to-earnings ratio of -4.87 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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.03 million. On average, 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.