Franklin Resources Inc. Has $10.71 Million Stake in CS Disco, Inc. (NYSE:LAW)

Franklin Resources Inc. lifted its position in shares of CS Disco, Inc. (NYSE:LAW) by 2.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,790,930 shares of the company’s stock after purchasing an additional 34,351 shares during the quarter. Franklin Resources Inc.’s holdings in CS Disco were worth $10,710,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LAW. nVerses Capital LLC acquired a new position in CS Disco during the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. acquired a new position in CS Disco during the second quarter worth $37,000. Bleakley Financial Group LLC bought a new position in CS Disco in the third quarter valued at $67,000. The Manufacturers Life Insurance Company increased its stake in CS Disco by 27.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock valued at $80,000 after buying an additional 2,871 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in CS Disco during the 3rd quarter worth about $158,000. 58.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LAW shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of CS Disco in a research report on Monday, December 9th. Jefferies Financial Group boosted their price target on CS Disco from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th.

CS Disco Stock Performance

Shares of LAW stock opened at $5.20 on Friday. CS Disco, Inc. has a 52-week low of $4.71 and a 52-week high of $8.80. The stock has a market cap of $311.53 million, a price-to-earnings ratio of -8.67 and a beta of 2.04. The firm’s 50-day moving average is $5.88 and its 200-day moving average is $5.73.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. The business had revenue of $36.27 million during the quarter, compared to the consensus estimate of $36.33 million. During the same quarter in the prior year, the company earned ($0.02) EPS. CS Disco’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that CS Disco, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Lafair sold 12,042 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $5.40, for a total transaction of $65,026.80. Following the completion of the sale, the chief financial officer now owns 781,060 shares in the company, valued at approximately $4,217,724. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.