Meeder Asset Management Inc. acquired a new position in shares of CS Disco, Inc. (NYSE:LAW – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,253 shares of the company’s stock, valued at approximately $37,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC purchased a new stake in CS Disco during the second quarter worth approximately $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of CS Disco during the 1st quarter worth approximately $52,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CS Disco in the 1st quarter valued at $83,000. American Century Companies Inc. grew its position in shares of CS Disco by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock valued at $192,000 after buying an additional 4,632 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in CS Disco by 6.9% during the 1st quarter. California State Teachers Retirement System now owns 26,808 shares of the company’s stock worth $218,000 after acquiring an additional 1,730 shares in the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.
CS Disco Stock Performance
Shares of NYSE:LAW opened at $5.59 on Monday. CS Disco, Inc. has a one year low of $4.71 and a one year high of $8.80. The company has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $6.42. The stock has a market capitalization of $335.27 million, a price-to-earnings ratio of -10.35 and a beta of 2.08.
Insiders Place Their Bets
In other news, Director Scott A. Hill purchased 23,554 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $5.39 per share, for a total transaction of $126,956.06. Following the completion of the purchase, the director now directly owns 187,615 shares in the company, valued at approximately $1,011,244.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.30% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of CS Disco from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $8.00 to $5.00 in a research note on Tuesday, July 2nd. Needham & Company LLC cut their price target on CS Disco from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.
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.
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