Pilgrim Partners Asia Pte Ltd Makes New Investment in CS Disco, Inc. (NYSE:LAW)

Pilgrim Partners Asia Pte Ltd bought a new stake in shares of CS Disco, Inc. (NYSE:LAW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,600 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of CS Disco during the fourth quarter valued at $47,000. Virtu Financial LLC purchased a new position in CS Disco during the 4th quarter valued at about $54,000. Meeder Asset Management Inc. grew its stake in CS Disco by 50.7% during the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock valued at $54,000 after acquiring an additional 3,650 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CS Disco in the 4th quarter valued at about $60,000. Finally, SG Americas Securities LLC purchased a new stake in shares of CS Disco in the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 58.05% of the company’s stock.

CS Disco Price Performance

Shares of CS Disco stock opened at $3.86 on Friday. The firm has a market cap of $232.78 million, a price-to-earnings ratio of -4.19 and a beta of 2.04. The stock has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $5.34. CS Disco, Inc. has a 52-week low of $3.65 and a 52-week high of $8.57.

CS Disco (NYSE:LAW) last posted its earnings results on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 business had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.03 million. As a group, equities research analysts predict that CS Disco, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have weighed in on LAW. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of CS Disco in a research note on Friday, February 21st. Jefferies Financial Group lowered their price target on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Monday, January 6th.

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.