NewGen Asset Management Ltd Acquires Shares of 89,172 Docebo Inc. $DCBO

Key Points

• NewGen Asset Management initiated a new stake in Docebo during the first quarter, buying 89,172 shares worth about $1.56 million. The position accounts for roughly 0.6% of NewGen’s portfolio and about 0.35% of Docebo.
• Several other institutional investors also adjusted their Docebo holdings, and hedge funds and other institutions now own 53.17% of the company.
• Wall Street sentiment is mixed but leans positive: Docebo has a Moderate Buy consensus rating with an average price target of $31.08, though some analysts have recently lowered ratings or trimmed targets.

NewGen Asset Management Ltd bought a new position in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 89,172 shares of the company's stock, valued at approximately $1,558,000. Docebo comprises approximately 0.6% of NewGen Asset Management Ltd's investment portfolio, making the stock its 17th biggest position. NewGen Asset Management Ltd owned approximately 0.35% of Docebo at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. DGS Capital Management LLC acquired a new stake in shares of Docebo in the first quarter valued at about $178,000. XTX Topco Ltd boosted its position in Docebo by 46.4% during the fourth quarter. XTX Topco Ltd now owns 18,067 shares of the company's stock worth $401,000 after acquiring an additional 5,725 shares during the last quarter. Wellington Management Group LLP boosted its position in Docebo by 1.2% during the fourth quarter. Wellington Management Group LLP now owns 437,595 shares of the company's stock worth $9,715,000 after acquiring an additional 5,169 shares during the last quarter. Millennium Management LLC grew its stake in Docebo by 137.2% during the 4th quarter. Millennium Management LLC now owns 213,444 shares of the company's stock valued at $4,741,000 after acquiring an additional 123,473 shares in the last quarter. Finally, Boothbay Fund Management LLC grew its stake in Docebo by 37.1% during the 4th quarter. Boothbay Fund Management LLC now owns 14,583 shares of the company's stock valued at $324,000 after acquiring an additional 3,947 shares in the last quarter. Hedge funds and other institutional investors own 53.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Docebo from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. National Bank Financial upped their price target on Docebo from $21.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday. Weiss Ratings raised Docebo from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 8th. ATB Cormark Capital Markets cut their price target on Docebo from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Monday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price objective on shares of Docebo in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.08.

Docebo Price Performance

Shares of DCBO stock opened at $19.48 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50-day moving average is $17.84 and its two-hundred day moving average is $18.47. Docebo Inc. has a 12 month low of $14.39 and a 12 month high of $33.42. The company has a market capitalization of $489.73 million, a PE ratio of 16.79 and a beta of 1.27.

Docebo Company Profile

Docebo is a cloud-based learning management system (LMS) provider that offers enterprise organizations a comprehensive platform for employee, customer and partner training. The company's software is designed to streamline learning and development with features such as AI-powered content recommendations, automated learning paths and social collaboration tools. Docebo's platform supports multiple languages and integrates with a variety of third-party applications, enabling businesses to deliver training at scale across different departments and regions.

Founded in 2005 and headquartered in Toronto, Canada, Docebo has expanded its footprint to serve customers in North America, Europe, the Middle East and the Asia Pacific region.

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