Docebo Inc. (NASDAQ:DCBO) Stock Holdings Lowered by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its ownership in Docebo Inc. by 7.0%, holding 149,326 shares valued at approximately $4.29 million.
• Other institutional investors have significantly increased their stakes in Docebo, with notable boosts from Y Intercept Hong Kong Ltd and Mackenzie Financial Corp, among others.
• Analyst ratings on Docebo have varied, with Morgan Stanley downgrading the stock from "overweight" to "equal weight" and adjusting the price target down to $32.00.

TD Asset Management Inc lessened its position in Docebo Inc. (NASDAQ:DCBO - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,326 shares of the company's stock after selling 11,248 shares during the period. TD Asset Management Inc owned approximately 0.50% of Docebo worth $4,294,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Docebo by 4,534.3% during the fourth quarter. Mackenzie Financial Corp now owns 322,454 shares of the company's stock valued at $14,444,000 after buying an additional 315,496 shares during the last quarter. TFJ Management LLC purchased a new position in shares of Docebo in the fourth quarter valued at approximately $12,138,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Docebo by 44.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 435,548 shares of the company's stock valued at $19,504,000 after acquiring an additional 134,867 shares during the period. Millennium Management LLC boosted its position in shares of Docebo by 128.2% in the 4th quarter. Millennium Management LLC now owns 78,616 shares of the company's stock worth $3,521,000 after buying an additional 44,162 shares in the last quarter. Finally, Louisbourg Investments Inc. lifted its holdings in shares of Docebo by 110.3% during the 1st quarter. Louisbourg Investments Inc. now owns 76,672 shares of the company's stock worth $2,207,000 after acquiring an additional 40,207 shares during the period. Institutional investors own 53.17% of the company's stock.

Docebo Stock Performance

Shares of DCBO stock traded up $0.42 on Tuesday, reaching $30.76. 81,365 shares of the company were exchanged, compared to its average volume of 86,413. The company has a market cap of $885.89 million, a price-to-earnings ratio of 41.57 and a beta of 1.48. Docebo Inc. has a 1 year low of $25.50 and a 1 year high of $53.86. The business has a 50-day moving average price of $28.53 and a 200 day moving average price of $31.62.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DCBO. Morgan Stanley cut Docebo from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $41.00 to $32.00 in a research note on Monday, May 12th. National Bank Financial downgraded Docebo from an "outperform" rating to a "sector perform" rating in a report on Friday, May 9th. Wall Street Zen lowered Docebo from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald assumed coverage on Docebo in a report on Monday, June 9th. They set an "overweight" rating and a $35.00 price objective for the company. Finally, Atb Cap Markets lowered Docebo from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Docebo has an average rating of "Moderate Buy" and an average target price of $44.13.

Docebo 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.