Fri Sep 20 08:31:00 UTC 2024: ## Acadian Asset Management Cuts CS Disco Holdings, Institutional Investors Mixed
**New York, NY – September 20, 2024** – Acadian Asset Management LLC significantly reduced its stake in CS Disco, Inc. (NYSE: LAW) during the second quarter, according to HoldingsChannel.com. The firm sold 255,200 shares, decreasing its holdings by 86.2% and leaving them with 40,855 shares worth $243,000 at the end of the quarter.
While Acadian Asset Management reduced its position, other institutional investors and hedge funds showed a mixed sentiment towards CS Disco. nVerses Capital LLC purchased a new stake worth approximately $36,000, and Allspring Global Investments Holdings LLC also acquired a new position valued at about $52,000 during the first quarter. State Board of Administration of Florida Retirement System bought a new stake worth approximately $83,000 in the first quarter.
California State Teachers Retirement System increased its position in CS Disco by 6.9% in the first quarter, adding 1,730 shares to reach a total of 26,808 shares valued at $218,000. Hillsdale Investment Management Inc. also acquired a new stake worth approximately $220,000 during the first quarter. Institutional investors currently own 58.05% of CS Disco stock.
CS Disco shares opened at $6.01 on Friday, with a 50-day simple moving average of $5.56 and a 200-day simple moving average of $6.40. The company has a market capitalization of $360.46 million, a PE ratio of -11.13, and a beta of 2.08.
In recent news, Director Scott A. Hill purchased 23,554 shares of CS Disco stock on August 13th at an average price of $5.39 per share, for a total transaction of $126,956.06. Following this acquisition, he now owns 187,615 shares in the company, valued at approximately $1,011,244.85. Corporate insiders currently own 22.30% of the company’s stock.
Research analysts have also been analyzing CS Disco. JPMorgan Chase & Co. downgraded the company’s rating from “neutral” to “underweight” and lowered its price objective from $8.00 to $5.00 on July 2nd. However, Needham & Company LLC maintained a “buy” rating but reduced its target price from $11.00 to $8.00 on August 9th.
**About CS Disco**
CS Disco, Inc. provides cloud-native and AI-powered legal solutions for various legal processes, including legal hold, legal request, ediscovery, legal document review, and case management. The company operates in the United States and internationally, offering solutions such as DISCO Request and DISCO Ediscovery.
**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice. It is essential to consult with a financial professional before making any investment decisions.
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