The Manufacturers Life Insurance Company Boosts Stock Position in CS Disco, Inc. (NYSE:LAW)

The Manufacturers Life Insurance Company raised its position in CS Disco, Inc. (NYSE:LAW) by 27.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,498 shares of the company’s stock after purchasing an additional 2,871 shares during the period. The Manufacturers Life Insurance Company’s holdings in CS Disco were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of CS Disco by 188.9% during the 2nd quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock valued at $868,000 after acquiring an additional 95,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CS Disco by 34.4% during the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after purchasing an additional 170,496 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in CS Disco during the first quarter worth approximately $52,000. State Board of Administration of Florida Retirement System purchased a new position in CS Disco during the first quarter worth approximately $83,000. Finally, American Century Companies Inc. boosted its holdings in shares of CS Disco by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock valued at $192,000 after purchasing an additional 4,632 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CS Disco news, Director Scott A. Hill bought 23,554 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $5.39 per share, with a total value of $126,956.06. Following the completion of the acquisition, the director now owns 187,615 shares of the company’s stock, valued at approximately $1,011,244.85. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded CS Disco from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $5.00 in a research report on Tuesday, July 2nd. Needham & Company LLC cut their price target on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

CS Disco Price Performance

Shares of LAW stock opened at $5.97 on Monday. CS Disco, Inc. has a 1-year low of $4.71 and a 1-year high of $8.80. The firm has a fifty day moving average of $5.65 and a two-hundred day moving average of $6.15. The firm has a market cap of $358.06 million, a P/E ratio of -11.06 and a beta of 2.09.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.52 million. CS Disco had a negative return on equity of 14.18% and a negative net margin of 19.88%. On average, sell-side analysts expect that CS Disco, Inc. will post -0.71 EPS for the current year.

About CS Disco

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.