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. reduced its position in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 29.3% in the first quarter, according to the company in its most recent filing with the 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 0.07% of Docebo worth $582,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DCBO. Tower Research Capital LLC TRC grew its holdings in shares of Docebo by 46.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company's stock valued at $134,000 after buying an additional 949 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Docebo in the 4th quarter valued at approximately $327,000. The Manufacturers Life Insurance Company boosted its stake in Docebo by 17.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 236,432 shares of the company's stock valued at $10,616,000 after purchasing an additional 34,497 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Docebo in the fourth quarter worth $621,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Docebo in the fourth quarter worth $911,000. 53.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. National Bank Financial cut Docebo from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 9th. Atb Cap Markets lowered shares of Docebo from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 11th. Cantor Fitzgerald assumed coverage on shares of Docebo in a report on Monday, June 9th. They set an "overweight" rating and a $35.00 price objective for the company. Wall Street Zen upgraded shares of Docebo from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Morgan Stanley downgraded shares of Docebo from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $41.00 to $32.00 in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.13.

Docebo Stock Performance

NASDAQ:DCBO traded down $0.12 during mid-day trading on Wednesday, hitting $30.66. 23,943 shares of the company traded hands, compared to its average volume of 88,788. 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 stock's fifty day moving average price is $30.18 and its 200-day moving average price is $30.02. The firm has a market cap of $880.83 million, a price-to-earnings ratio of 44.36 and a beta of 1.48. Docebo Inc. has a one year low of $25.50 and a one year high of $53.86.

Docebo Profile

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.