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

Formula Growth Ltd. boosted its position in CS Disco, Inc. (NYSE:LAW) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 750,000 shares of the company’s stock after buying an additional 140,000 shares during the quarter. CS Disco makes up about 1.3% of Formula Growth Ltd.’s portfolio, making the stock its 29th biggest position. Formula Growth Ltd. owned about 1.25% of CS Disco worth $3,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of CS Disco during the 4th quarter worth approximately $8,854,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CS Disco by 457.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company’s stock worth $746,000 after purchasing an additional 122,703 shares during the last quarter. 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 purchasing an additional 101,391 shares in the last quarter. Franklin Resources Inc. increased its stake in CS Disco by 2.0% in the 3rd 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 during the last quarter. Finally, Barclays PLC lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group decreased their price objective on 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 restated a “buy” rating and issued a $8.00 price target on shares of CS Disco in a research note on Friday, February 21st.

CS Disco Price Performance

Shares of LAW stock opened at $3.46 on Friday. The company has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $5.15. CS Disco, Inc. has a one year low of $3.34 and a one year high of $8.20. The stock has a market cap of $208.62 million, a P/E ratio of -3.76 and a beta of 2.04.

CS Disco (NYSE:LAW) last issued its earnings results 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 anticipate that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at CS Disco

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $5.19, for a total value of $68,227.74. Following the transaction, the chief financial officer now directly owns 865,793 shares in the company, valued at $4,493,465.67. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 22,995 shares of company stock worth $118,818. Company insiders own 15.60% of the company’s stock.

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.