Geode Capital Management LLC Lowers Holdings in CS Disco, Inc. (NYSE:LAW)

Geode Capital Management LLC lowered its holdings in CS Disco, Inc. (NYSE:LAW) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 602,699 shares of the company’s stock after selling 6,677 shares during the period. Geode Capital Management LLC owned approximately 1.01% of CS Disco worth $3,544,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of CS Disco by 19.1% in the third quarter. M&T Bank Corp now owns 102,898 shares of the company’s stock worth $606,000 after acquiring an additional 16,535 shares in the last quarter. Barclays PLC boosted its holdings in CS Disco by 291.1% in the third 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. Jane Street Group LLC grew its stake in CS Disco by 44.2% during the 3rd quarter. Jane Street Group LLC now owns 45,339 shares of the company’s stock worth $267,000 after purchasing an additional 13,894 shares in the last quarter. State Street Corp increased its holdings in CS Disco by 0.4% during the 3rd quarter. State Street Corp now owns 507,626 shares of the company’s stock worth $2,985,000 after purchasing an additional 1,995 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position in CS Disco by 9.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 954,328 shares of the company’s stock valued at $5,611,000 after purchasing an additional 80,496 shares in the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

CS Disco Price Performance

Shares of LAW opened at $4.90 on Tuesday. CS Disco, Inc. has a 1-year low of $4.71 and a 1-year high of $8.80. The stock has a market cap of $293.55 million, a PE ratio of -8.17 and a beta of 2.06. The firm has a fifty day moving average price of $5.68 and a 200 day moving average price of $5.67.

CS Disco (NYSE:LAW) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $36.27 million during the quarter, compared to analysts’ expectations of $36.33 million. CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, equities analysts expect that CS Disco, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at CS Disco

In related news, CFO Michael Lafair sold 12,042 shares of CS Disco stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $5.40, for a total value of $65,026.80. Following the sale, the chief financial officer now directly owns 781,060 shares in the company, valued at $4,217,724. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 15.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAW. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of CS Disco in a research note on Monday, December 9th. Jefferies Financial Group dropped their price objective on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a research report on Monday.

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.