Pilgrim Partners Asia Pte Ltd Makes New Investment in CS Disco, Inc. (NYSE:LAW)

Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of CS Disco, Inc. (NYSE:LAW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,600 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LAW. R Squared Ltd acquired a new position in CS Disco during the 4th quarter valued at about $47,000. Virtu Financial LLC acquired a new position in shares of CS Disco during the fourth quarter worth approximately $54,000. Meeder Asset Management Inc. grew its holdings in CS Disco by 50.7% in the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock worth $54,000 after buying an additional 3,650 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in CS Disco in the 4th quarter valued at approximately $60,000. Finally, SG Americas Securities LLC bought a new stake in CS Disco during the 4th quarter valued at $65,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

Wall Street Analysts Forecast Growth

LAW has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of CS Disco in a research note on Friday, February 21st.

Insider Activity

In other news, CFO Michael Lafair sold 13,146 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 865,793 shares of the company’s stock, valued at $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 available at this link. In the last 90 days, insiders sold 22,995 shares of company stock worth $118,818. Insiders own 15.60% of the company’s stock.

CS Disco Stock Performance

Shares of LAW stock opened at $3.86 on Friday. The stock has a market cap of $232.78 million, a PE ratio of -4.19 and a beta of 2.04. The business’s fifty day moving average is $4.78 and its 200-day moving average is $5.34. CS Disco, Inc. has a 1 year low of $3.65 and a 1 year high of $8.57.

CS Disco (NYSE:LAW) last released its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. The firm had revenue of $37.00 million for the quarter, compared to analyst estimates of $36.03 million. Equities research analysts predict that CS Disco, Inc. will post -0.64 earnings per share for the current year.

CS Disco Company 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.