TD Asset Management Inc Reduces Position in Docebo Inc. (NASDAQ:DCBO)

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 cut its holdings in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,326 shares of the company's stock after selling 11,248 shares during the quarter. TD Asset Management Inc owned 0.50% of Docebo worth $4,294,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in Docebo by 44.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 435,548 shares of the company's stock worth $19,504,000 after acquiring an additional 134,867 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Docebo by 4,534.3% in the fourth quarter. Mackenzie Financial Corp now owns 322,454 shares of the company's stock valued at $14,444,000 after purchasing an additional 315,496 shares during the last quarter. TFJ Management LLC purchased a new position in Docebo during the fourth quarter worth about $12,138,000. The Manufacturers Life Insurance Company grew its position in Docebo by 17.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 236,432 shares of the company's stock worth $10,616,000 after purchasing an additional 34,497 shares in the last quarter. Finally, Barrier Capital Management LLC increased its stake in Docebo by 5.6% in the 4th quarter. Barrier Capital Management LLC now owns 198,298 shares of the company's stock valued at $8,878,000 after buying an additional 10,576 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company's stock.

Docebo Stock Performance

Docebo stock traded down $0.19 during mid-day trading on Wednesday, reaching $30.57. 28,637 shares of the company were exchanged, compared to its average volume of 86,028. Docebo Inc. has a 12-month low of $25.50 and a 12-month high of $53.86. The business has a fifty day moving average of $28.60 and a 200 day moving average of $31.61. The firm has a market cap of $880.53 million, a P/E ratio of 41.31 and a beta of 1.48.

Analyst Upgrades and Downgrades

DCBO has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and set a $42.00 target price on shares of Docebo in a research report on Thursday, April 10th. National Bank Financial lowered Docebo from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 9th. Cantor Fitzgerald assumed coverage on shares of Docebo in a research report on Monday, June 9th. They set an "overweight" rating and a $35.00 price target for the company. Morgan Stanley downgraded Docebo from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $41.00 to $32.00 in a report on Monday, May 12th. Finally, Wall Street Zen lowered shares of Docebo from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.13.

About Docebo

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.