CS Disco (OTC:DSCSY), Inc. (NYSE:LAW) has reported a recent transaction involving its Executive Vice President and Chief Financial Officer, Michael Lafair. According to the latest filing, Lafair sold a total of 7,690 shares of the company's common stock. The transaction took place on May 17, 2024, and resulted in proceeds exceeding $51,000 for the CFO.
The shares were sold at prices ranging from $6.65 to $6.70, with the reported weighted average price per share being $6.65. This sale was mandatory for Lafair to cover taxes and fees due upon the release and settlement of restricted stock units, as indicated by the footnotes accompanying the filing. It's important to note that the executive did not sell any shares for reasons other than to meet these obligations.
Following the transaction, Lafair's ownership in CS Disco, Inc. stands at 813,738 shares. The sale represents a part of the executive's compensation that is often subject to automatic selling to satisfy tax liabilities.
Investors and followers of CS Disco, Inc. can request more detailed information about the sale, including the exact number of shares sold at each price point within the specified range, from the issuer or the executive.
The company, headquartered in Austin, Texas, specializes in prepackaged software services and is known for its innovative solutions in the legal technology sector. Transactions of this nature are common among executives and are disclosed to the public as part of the regulatory requirements set forth by the Securities and Exchange Commission.
InvestingPro Insights
CS Disco, Inc. (NYSE:LAW) has recently seen its Executive Vice President and Chief Financial Officer, Michael Lafair, engage in a significant stock transaction. While the sale was for personal tax obligations, investors looking at the broader financial health of the company may find several metrics and InvestingPro Tips revealing. Notably, the company holds more cash than debt on its balance sheet, which is a positive signal for financial stability. Additionally, the fact that two analysts have revised their earnings upwards for the upcoming period suggests a potential improvement in the company's financial outlook.
On the financial data front, CS Disco, Inc. boasts a market capitalization of $377.25 million, which is a testament to its size within the prepackaged software services sector. The company's revenue growth for the last twelve months as of Q1 2024 stood at 4.99%, and its gross profit margin was notably high at 74.72%. Despite these strengths, the company has a negative P/E ratio of -11.8, reflecting that analysts do not anticipate profitability this year. This aligns with the InvestingPro Tip that the company was not profitable over the last twelve months. Additionally, the company does not pay a dividend, which may be a consideration for income-focused investors.
For investors intrigued by the dynamics of CS Disco, Inc. and considering a deeper dive into the company's potential, there are additional InvestingPro Tips available that could guide investment decisions. In total, there are more InvestingPro Tips listed on the platform, which can be accessed by visiting https://www.investing.com/pro/LAW. For those interested, using the coupon code PRONEWS24 provides an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering even more value and insight into investment opportunities.
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