Docebo Inc. (NASDAQ:DCBO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Docebo Inc. by 10.5%, selling 34,675 shares during the first quarter, now holding 0.99% of the company worth approximately $8.47 million.
• Several institutional investors have adjusted their positions in Docebo, with 53.17% of the stock currently owned by such investors, and notable increases from firms like Tower Research Capital LLC and Graham Capital Management.
• Analysts have recently revised their price targets for Docebo, with a consensus target now at $44.13 and ratings ranging from "hold" to "overweight" from various brokerages.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 294,477 shares of the company's stock after selling 34,675 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Docebo worth $8,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Docebo by 0.9% during the 4th 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 period. Tower Research Capital LLC TRC raised its position in shares of Docebo by 46.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company's stock worth $134,000 after purchasing an additional 949 shares during the period. Advisory Services Network LLC raised its position in shares of Docebo by 10.5% during the 4th quarter. Advisory Services Network LLC now owns 16,065 shares of the company's stock worth $720,000 after purchasing an additional 1,526 shares during the period. Jump Financial LLC raised its position in shares of Docebo by 33.3% during the 4th quarter. Jump Financial LLC now owns 8,320 shares of the company's stock worth $372,000 after purchasing an additional 2,080 shares during the period. Finally, Graham Capital Management L.P. raised its position in shares of Docebo by 18.8% during the 4th quarter. Graham Capital Management L.P. now owns 20,359 shares of the company's stock worth $911,000 after purchasing an additional 3,229 shares during the period. 53.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DCBO. Scotiabank decreased their price objective on Docebo from $45.00 to $40.00 and set a "sector outperform" rating for the company in a report on Monday, May 12th. National Bank Financial lowered Docebo from an "outperform" rating to a "sector perform" rating in a report on Friday, May 9th. Atb Cap Markets lowered Docebo from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 11th. National Bankshares decreased their price objective on Docebo from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on Docebo in a report on Monday, June 9th. They issued an "overweight" rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Docebo presently has a consensus rating of "Moderate Buy" and an average price target of $44.13.

Docebo Stock Performance

Shares of NASDAQ:DCBO opened at $31.16 on Tuesday. Docebo Inc. has a one year low of $25.50 and a one year high of $53.86. The stock has a fifty day moving average of $28.87 and a 200-day moving average of $31.19. The company has a market capitalization of $897.41 million, a PE ratio of 45.16 and a beta of 1.48.

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.

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