Nisa Investment Advisors LLC Invests $27,000 in CS Disco, Inc. (NYSE:LAW)

Nisa Investment Advisors LLC bought a new stake in CS Disco, Inc. (NYSE:LAW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,600 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of CS Disco by 25.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 261,096 shares of the company’s stock valued at $1,734,000 after purchasing an additional 52,714 shares during the period. Acuitas Investments LLC bought a new stake in CS Disco in the third quarter valued at $174,000. Public Employees Retirement System of Ohio acquired a new position in CS Disco during the third quarter worth $120,000. Jump Financial LLC acquired a new stake in shares of CS Disco in the 3rd quarter valued at $96,000. Finally, Worth Venture Partners LLC bought a new stake in shares of CS Disco in the 3rd quarter worth about $89,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LAW. JPMorgan Chase & Co. initiated coverage on shares of CS Disco in a report on Monday, March 25th. They set a “neutral” rating and a $9.00 price target for the company. Piper Sandler raised their price target on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of CS Disco in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.31.

Insider Activity

In related news, CFO Michael Lafair sold 8,614 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the completion of the sale, the chief financial officer now directly owns 826,345 shares of the company’s stock, valued at $5,635,672.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.30% of the company’s stock.

CS Disco Stock Performance

NYSE:LAW opened at $7.72 on Tuesday. The stock’s fifty day moving average price is $7.54 and its two-hundred day moving average price is $7.12. The company has a market cap of $471.39 million, a price-to-earnings ratio of -10.87 and a beta of 2.26. CS Disco, Inc. has a 52-week low of $5.07 and a 52-week high of $10.77.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.11. The business had revenue of $35.74 million for the quarter, compared to analyst estimates of $34.94 million. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. On average, equities analysts predict that CS Disco, Inc. will post -0.78 EPS for the current fiscal year.

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.