Connor Clark & Lunn Investment Management Ltd. Sells 34,675 Shares of Docebo Inc. (NASDAQ:DCBO)

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings 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 acquiring an additional 360 shares during the period. Tower Research Capital LLC TRC boosted its stake in Docebo by 46.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company's stock valued at $134,000 after purchasing an additional 949 shares during the last quarter. Advisory Services Network LLC boosted its stake in Docebo by 10.5% during the 4th quarter. Advisory Services Network LLC now owns 16,065 shares of the company's stock valued at $720,000 after purchasing an additional 1,526 shares during the last quarter. Jump Financial LLC boosted its stake in Docebo by 33.3% during the 4th quarter. Jump Financial LLC now owns 8,320 shares of the company's stock valued at $372,000 after purchasing an additional 2,080 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its stake in Docebo by 18.8% during the 4th quarter. Graham Capital Management L.P. now owns 20,359 shares of the company's stock valued at $911,000 after purchasing an additional 3,229 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company's stock.

Docebo Price Performance

NASDAQ:DCBO traded up $0.17 on Friday, reaching $31.54. 89,976 shares of the company's stock traded hands, compared to its average volume of 84,141. The company has a quick ratio of 1.15, a current ratio of 1.04 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $29.25 and a 200-day simple moving average of $31.04. The firm has a market cap of $906.14 million, a PE ratio of 45.71 and a beta of 1.48. Docebo Inc. has a 12 month low of $25.50 and a 12 month high of $53.86.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DCBO. National Bankshares dropped their price target on Docebo from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Morgan Stanley downgraded Docebo from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $41.00 to $32.00 in a research report on Monday, May 12th. Zacks Research upgraded Docebo to a "hold" rating in a research report on Friday, August 8th. Scotiabank lowered their target price 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. Finally, Wall Street Zen upgraded Docebo from a "hold" rating to a "buy" rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.