Federated Hermes Inc. Sells 304,141 Shares of CS Disco, Inc. (NYSE:LAW)

Federated Hermes Inc. lowered its stake in shares of CS Disco, Inc. (NYSE:LAW – Get Rating) by 75.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 100,000 shares of the company’s stock after selling 304,141 shares during the period. Federated Hermes Inc.’s holdings in CS Disco were worth $1,000,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in LAW. Bank of New York Mellon Corp grew its position in CS Disco by 81.5% during the third quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock valued at $7,869,000 after buying an additional 353,335 shares during the period. BlackRock Inc. lifted its holdings in CS Disco by 17.2% during the first quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock valued at $76,978,000 after purchasing an additional 332,076 shares during the last quarter. Franklin Resources Inc. lifted its holdings in CS Disco by 25.4% during the second quarter. Franklin Resources Inc. now owns 1,463,441 shares of the company’s stock valued at $26,400,000 after purchasing an additional 296,722 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CS Disco by 20.9% during the first quarter. Vanguard Group Inc. now owns 1,496,001 shares of the company’s stock valued at $50,819,000 after purchasing an additional 258,911 shares during the last quarter. Finally, Stanley Laman Group Ltd. purchased a new stake in CS Disco during the third quarter valued at about $1,813,000. Institutional investors own 58.18% of the company’s stock.

CS Disco Price Performance

Shares of LAW opened at $6.18 on Tuesday. CS Disco, Inc. has a 1-year low of $5.56 and a 1-year high of $36.52. The firm’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $8.78. The company has a market capitalization of $367.40 million, a P/E ratio of -5.11 and a beta of 2.31.

Wall Street Analyst Weigh In

LAW has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of CS Disco in a report on Friday, February 24th. Cowen dropped their price objective on shares of CS Disco to $12.00 in a report on Wednesday, November 16th. Bank of America downgraded shares of CS Disco from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $12.00 to $5.00 in a report on Wednesday, January 4th. Cowen lowered their price target on shares of CS Disco from $12.00 to $8.00 and set a “market perform” rating on the stock in a report on Friday, February 24th. Finally, Canaccord Genuity Group raised shares of CS Disco from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, January 4th. One 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’s stock. According to data from MarketBeat, CS Disco currently has a consensus rating of “Hold” and a consensus price target of $13.92.

CS Disco Profile

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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.