CS Disco, Inc. (NYSE:LAW) Shares Sold by Solel Partners LP

Solel Partners LP lowered its stake in shares of CS Disco, Inc. (NYSE:LAW) by 55.3% in the second quarter, Holdings Channel reports. The firm owned 1,493,781 shares of the company’s stock after selling 1,848,527 shares during the period. CS Disco accounts for about 1.5% of Solel Partners LP’s investment portfolio, making the stock its 18th largest position. Solel Partners LP’s holdings in CS Disco were worth $8,903,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LAW. Vanguard Group Inc. increased its position in shares of CS Disco by 4.2% during the first quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock worth $16,514,000 after purchasing an additional 82,549 shares in the last quarter. Norges Bank purchased a new stake in shares of CS Disco during the fourth quarter worth $13,467,000. Dimensional Fund Advisors LP raised its position in shares of CS Disco by 34.4% in the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock valued at $3,972,000 after buying an additional 170,496 shares during the last quarter. Berylson Capital Partners LLC lifted its stake in shares of CS Disco by 424.2% in the fourth quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock worth $2,145,000 after buying an additional 228,669 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in CS Disco by 55.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 221,579 shares of the company’s stock worth $1,682,000 after acquiring an additional 79,208 shares during the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on LAW shares. JPMorgan Chase & Co. downgraded shares of CS Disco from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $5.00 in a report 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 for the company in a report on Friday, August 9th.

Insider Buying and Selling

In other CS Disco news, Director Scott A. Hill bought 23,554 shares of CS Disco stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $5.39 per share, for a total transaction of $126,956.06. Following the completion of the transaction, the director now directly owns 187,615 shares of the company’s stock, valued at $1,011,244.85. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 22.30% of the stock is currently owned by company insiders.

CS Disco Trading Down 3.2 %

Shares of LAW opened at $5.68 on Tuesday. CS Disco, Inc. has a 12-month low of $4.71 and a 12-month high of $8.80. The firm has a market capitalization of $340.66 million, a P/E ratio of -10.52 and a beta of 2.08. The firm has a 50-day moving average price of $5.58 and a 200 day moving average price of $6.39.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business had revenue of $36.01 million during the quarter, compared to analysts’ expectations of $35.52 million. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. Equities research analysts predict that CS Disco, Inc. will post -0.71 earnings per share for the current fiscal year.

About CS Disco

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.