Franklin Resources Inc. Sells 217,121 Shares of CS Disco, Inc. (NYSE:LAW)

Franklin Resources Inc. decreased its stake in CS Disco, Inc. (NYSE:LAW) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573,809 shares of the company’s stock after selling 217,121 shares during the quarter. Franklin Resources Inc. owned approximately 2.63% of CS Disco worth $7,853,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LAW. State Street Corp lifted its stake in shares of CS Disco by 0.4% during the third quarter. State Street Corp now owns 507,626 shares of the company’s stock valued at $2,985,000 after acquiring an additional 1,995 shares during the period. Rhumbline Advisers increased its holdings in shares of CS Disco by 8.8% in the fourth quarter. Rhumbline Advisers now owns 41,156 shares of the company’s stock worth $205,000 after acquiring an additional 3,326 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of CS Disco by 50.7% in the fourth quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock worth $54,000 after acquiring an additional 3,650 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CS Disco by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 218,990 shares of the company’s stock worth $1,288,000 after acquiring an additional 7,551 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of CS Disco during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

CS Disco Trading Up 6.2 %

Shares of NYSE LAW opened at $3.77 on Thursday. The firm has a market cap of $227.64 million, a P/E ratio of -4.10 and a beta of 2.04. CS Disco, Inc. has a 1-year low of $3.52 and a 1-year high of $8.24. The business’s 50 day moving average is $4.63 and its 200-day moving average is $5.26.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) 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 company had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.03 million. Analysts forecast that CS Disco, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael Lafair sold 13,146 shares of CS Disco stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 22,995 shares of company stock worth $118,818 in the last 90 days. Company insiders own 15.60% of the company’s stock.

Analysts Set New Price Targets

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

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.