Mackenzie Financial Corp Acquires 58,702 Shares of Docebo Inc. (NASDAQ:DCBO)

Key Points

• Mackenzie Financial Corp increased its holdings in Docebo Inc. by 18.2%, acquiring an additional 58,702 shares in the 1st quarter, bringing its total ownership to approximately 1.27% of the company.
• Several research analysts have provided mixed ratings on Docebo, with Morgan Stanley downgrading their target price from $41.00 to $32.00 while Needham & Company continues to maintain a "buy" rating with a target of $42.00.
• As of now, Docebo has a market capitalization of $872.64 million and has experienced significant price fluctuations, with a one-year low of $25.50 and a high of $53.86.

Mackenzie Financial Corp raised its stake in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 381,156 shares of the company's stock after purchasing an additional 58,702 shares during the quarter. Mackenzie Financial Corp owned 1.27% of Docebo worth $10,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Docebo by 60.7% during the 4th quarter. JPMorgan Chase & Co. now owns 42,023 shares of the company's stock worth $1,881,000 after acquiring an additional 15,873 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Docebo by 44.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 435,548 shares of the company's stock valued at $19,504,000 after purchasing an additional 134,867 shares in the last quarter. Geode Capital Management LLC lifted its stake in Docebo by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 40,903 shares of the company's stock worth $1,832,000 after purchasing an additional 360 shares during the last quarter. Long Path Partners LP boosted its holdings in shares of Docebo by 1.2% in the 4th quarter. Long Path Partners LP now owns 740,055 shares of the company's stock worth $33,132,000 after purchasing an additional 8,756 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Docebo in the 4th quarter worth about $255,000. Hedge funds and other institutional investors own 53.17% of the company's stock.

Docebo Price Performance

DCBO traded down $0.31 during trading on Friday, hitting $29.99. 90,003 shares of the stock traded hands, compared to its average volume of 52,636. The firm has a market capitalization of $863.71 million, a P/E ratio of 40.53 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 firm has a 50-day moving average of $28.44 and a 200 day moving average of $31.86.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DCBO. Wall Street Zen cut Docebo from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Scotiabank lowered their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Docebo in a research note on Thursday, April 10th. Atb Cap Markets cut shares of Docebo from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 11th. Finally, Morgan Stanley downgraded shares of Docebo from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $41.00 to $32.00 in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.13.

Docebo Company 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.