Formula Growth Ltd. increased its holdings in CS Disco, Inc. (NYSE:LAW - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 750,000 shares of the company's stock after buying an additional 140,000 shares during the quarter. CS Disco comprises approximately 1.3% of Formula Growth Ltd.'s investment portfolio, making the stock its 29th largest holding. Formula Growth Ltd. owned 1.25% of CS Disco worth $3,742,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in CS Disco in the fourth quarter valued at $8,854,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $746,000 after acquiring an additional 122,703 shares during the period. JPMorgan Chase & Co. lifted its holdings in CS Disco by 104.1% in the third quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company's stock valued at $1,169,000 after acquiring an additional 101,391 shares during the period. Franklin Resources Inc. grew its stake in shares of CS Disco by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company's stock worth $10,710,000 after purchasing an additional 34,351 shares during the period. Finally, Barclays PLC lifted its stake in shares of CS Disco by 291.1% in the 3rd quarter. Barclays PLC now owns 40,919 shares of the company's stock valued at $241,000 after purchasing an additional 30,456 shares during the period. 58.05% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CFO Michael Lafair sold 13,146 shares of CS Disco stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 22,995 shares of company stock valued at $118,818 in the last ninety days. 15.60% of the stock is currently owned by corporate insiders.
CS Disco Stock Up 2.0 %
Shares of CS Disco stock traded up $0.07 during mid-day trading on Thursday, reaching $3.58. 13,092 shares of the stock traded hands, compared to its average volume of 118,141. The business has a 50-day moving average of $4.27 and a 200 day moving average of $5.10. The stock has a market capitalization of $216.23 million, a PE ratio of -3.90 and a beta of 2.04. CS Disco, Inc. has a fifty-two week low of $3.31 and a fifty-two week high of $8.20.
CS Disco (NYSE:LAW - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.03 million. CS Disco had a negative net margin of 38.51% and a negative return on equity of 22.30%. On average, equities research analysts expect that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $8.00 target price on shares of CS Disco in a research report on Friday, February 21st. 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 research report on Monday, January 6th.
Check Out Our Latest Stock Analysis on LAW
About CS Disco
(
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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