Federated Hermes Inc. lessened its stake in shares of CS Disco, Inc. (NYSE:LAW – Get Rating) by 75.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 100,000 shares of the company’s stock after selling 304,141 shares during the quarter. Federated Hermes Inc. owned about 0.17% of CS Disco worth $1,000,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors have also bought and sold shares of LAW. Bank of New York Mellon Corp raised its stake in CS Disco by 81.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock worth $7,869,000 after purchasing an additional 353,335 shares in the last quarter. BlackRock Inc. raised its stake in CS Disco by 17.2% in the 1st quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock worth $76,978,000 after purchasing an additional 332,076 shares in the last quarter. Franklin Resources Inc. raised its stake in CS Disco by 25.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,463,441 shares of the company’s stock worth $26,400,000 after purchasing an additional 296,722 shares in the last quarter. Vanguard Group Inc. raised its stake in CS Disco by 20.9% in the 1st quarter. Vanguard Group Inc. now owns 1,496,001 shares of the company’s stock worth $50,819,000 after purchasing an additional 258,911 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in CS Disco in the 3rd quarter worth about $1,813,000. Institutional investors and hedge funds own 58.18% of the company’s stock.
CS Disco Price Performance
LAW opened at $6.18 on Tuesday. CS Disco, Inc. has a fifty-two week low of $5.56 and a fifty-two week high of $36.52. The firm has a market capitalization of $367.40 million, a price-to-earnings ratio of -5.11 and a beta of 2.31. The company’s 50 day moving average price is $7.35 and its two-hundred day moving average price is $8.78.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Cowen dropped their price objective on shares of CS Disco from $12.00 to $8.00 and set a “market perform” rating for the company in a research note on Friday, February 24th. Cowen decreased their target price on shares of CS Disco to $12.00 in a report on Wednesday, November 16th. Citigroup lowered shares of CS Disco from a “buy” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $8.00 in a report on Thursday, January 12th. Bank of America lowered shares of CS Disco from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $12.00 to $5.00 in a report on Wednesday, January 4th. Finally, Canaccord Genuity Group raised shares of CS Disco from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.92.
About CS Disco
CS Disco, Inc, a legal technology company, provides cloud-native and artificial intelligence-powered legal solutions for ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments. The company offers DISCO Ediscovery, a solution that automates 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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