Russell Investments Group Ltd. Trims Position in Docebo Inc. $DCBO

Key Points

• Russell Investments Group Ltd. reduced its stake in Docebo Inc. by 29.3%, selling 8,420 shares during the first quarter, leaving them with approximately 0.07% of the company's stock valued at $582,000.
• Several hedge funds, including Jane Street Group LLC and Millennium Management LLC, have recently made significant modifications to their holdings in Docebo, increasing their stakes and accumulating significant shares.
• Wall Street analysts have mixed opinions on Docebo, with ratings ranging from "overweight" to "hold," and an average price target set at $44.13.

Russell Investments Group Ltd. decreased its position in Docebo Inc. (NASDAQ:DCBO - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,269 shares of the company's stock after selling 8,420 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Docebo worth $582,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DCBO. Mackenzie Financial Corp boosted its holdings in Docebo by 18.2% during the first quarter. Mackenzie Financial Corp now owns 381,156 shares of the company's stock worth $10,962,000 after purchasing an additional 58,702 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Docebo by 17.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 236,432 shares of the company's stock worth $10,616,000 after buying an additional 34,497 shares in the last quarter. Barrier Capital Management LLC boosted its stake in shares of Docebo by 5.6% in the 4th quarter. Barrier Capital Management LLC now owns 198,298 shares of the company's stock worth $8,878,000 after buying an additional 10,576 shares during the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Docebo by 30.6% in the first quarter. Rice Hall James & Associates LLC now owns 143,949 shares of the company's stock valued at $4,133,000 after acquiring an additional 33,759 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Docebo by 45.3% in the first quarter. Intact Investment Management Inc. now owns 102,600 shares of the company's stock valued at $2,951,000 after acquiring an additional 32,000 shares in the last quarter. 53.17% of the stock is owned by institutional investors.

Docebo Stock Performance

Docebo stock traded up $0.52 during midday trading on Thursday, reaching $31.14. The stock had a trading volume of 68,704 shares, compared to its average volume of 104,734. The firm has a market capitalization of $894.65 million, a PE ratio of 45.13 and a beta of 1.48. Docebo Inc. has a 12 month low of $25.50 and a 12 month high of $53.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $30.32 and its 200 day moving average price is $29.95.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank cut their price objective on Docebo from $45.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of Docebo from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Morgan Stanley lowered shares of Docebo from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $41.00 to $32.00 in a research report on Monday, May 12th. Zacks Research raised shares of Docebo to a "hold" rating in a research report on Friday, August 8th. Finally, National Bank Financial cut shares of Docebo from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.13.

About Docebo

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.