Baillie Gifford & Co. Trims Stock Position in Docebo Inc. (NASDAQ:DCBO)

Key Points

• Baillie Gifford & Co. significantly reduced its stake in Docebo Inc., decreasing ownership by 57.7% during the first quarter, leaving it with 100,016 shares valued at approximately $2.88 million.
• Multiple institutional investors have been active in Docebo's stock, with Jane Street Group establishing a new position and other firms like Rice Hall James and Millennium Management increasing their holdings substantially.
• Following various analyst reports, Docebo's stock ratings have become mixed, with some firms downgrading their buy ratings while others, like Needham & Company LLC, continue to support a buy with a target price of $42.00.

Baillie Gifford & Co. reduced its stake in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 57.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 100,016 shares of the company's stock after selling 136,708 shares during the period. Baillie Gifford & Co. owned approximately 0.33% of Docebo worth $2,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of Docebo during the 4th quarter valued at about $132,000. Tower Research Capital LLC TRC lifted its stake in Docebo by 46.7% in the 4th 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 in the last quarter. Deutsche Bank AG purchased a new position in Docebo in the 4th quarter valued at about $242,000. Dynamic Technology Lab Private Ltd purchased a new position in Docebo in the 4th quarter valued at about $255,000. Finally, State of Wyoming purchased a new position in Docebo in the 4th quarter valued at about $275,000. 53.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. National Bankshares reduced their price target on shares of Docebo from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald assumed coverage on shares of Docebo in a research report on Monday, June 9th. They set an "overweight" rating and a $35.00 price target on the stock. 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. Scotiabank dropped their target price on shares of Docebo from $45.00 to $40.00 and set a "sector outperform" rating for the company in a report on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Docebo from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.13.

Docebo Stock Performance

Shares of NASDAQ:DCBO traded up $0.15 during trading on Wednesday, hitting $30.33. The company's stock had a trading volume of 7,433 shares, compared to its average volume of 86,123. The company has a market capitalization of $873.36 million, a PE ratio of 40.98 and a beta of 1.48. The business has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $32.03. Docebo Inc. has a fifty-two week low of $25.50 and a fifty-two week high of $53.86.

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.