Formula Growth Ltd. Has $3.74 Million Stock Holdings in CS Disco, Inc. (NYSE:LAW)

Formula Growth Ltd. lifted its stake in shares of CS Disco, Inc. (NYSE:LAW) by 23.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 750,000 shares of the company’s stock after buying an additional 140,000 shares during the period. CS Disco makes up 1.3% of Formula Growth Ltd.’s investment portfolio, making the stock its 29th biggest position. Formula Growth Ltd.’s holdings in CS Disco were worth $3,742,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp lifted its stake in CS Disco by 0.4% during the third 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 last quarter. Jane Street Group LLC raised its holdings in shares of 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 buying an additional 13,894 shares in the last quarter. Barclays PLC lifted its position in shares of CS Disco by 291.1% during the 3rd quarter. Barclays PLC now owns 40,919 shares of the company’s stock worth $241,000 after buying an additional 30,456 shares during the last quarter. Franklin Resources Inc. boosted its stake in CS Disco by 2.0% in the third quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock valued at $10,710,000 after buying an additional 34,351 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 last quarter. Institutional investors own 58.05% of the company’s stock.

Wall Street Analyst Weigh In

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

CS Disco Stock Up 0.7 %

Shares of LAW stock opened at $3.46 on Friday. The firm has a market capitalization of $208.62 million, a P/E ratio of -3.76 and a beta of 2.04. CS Disco, Inc. has a twelve month low of $3.34 and a twelve month high of $8.20. The stock’s fifty day simple moving average is $4.39 and its 200 day simple moving average is $5.15.

CS Disco (NYSE:LAW) last released its quarterly earnings data 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). The firm 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%. As a group, equities research analysts expect that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at CS Disco

In other news, CFO Michael Lafair sold 13,146 shares of CS Disco stock in a transaction 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 transaction, the chief financial officer now owns 865,793 shares in the company, valued at approximately $4,493,465.67. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 22,995 shares of company stock worth $118,818. 15.60% of the stock is currently owned by company insiders.

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.