Renaissance Technologies LLC Decreases Stock Holdings in Docebo Inc. (NASDAQ:DCBO)

Renaissance Technologies LLC lessened its stake in Docebo Inc. (NASDAQ:DCBO) by 22.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,131 shares of the company’s stock after selling 23,569 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of Docebo worth $3,677,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DCBO. Russell Investments Group Ltd. increased its stake in shares of Docebo by 102.1% during the fourth quarter. Russell Investments Group Ltd. now owns 28,689 shares of the company’s stock worth $1,285,000 after purchasing an additional 14,496 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Docebo in the 4th quarter worth about $255,000. Long Path Partners LP increased its stake in Docebo by 1.2% during the 4th quarter. Long Path Partners LP now owns 740,055 shares of the company’s stock worth $33,132,000 after buying an additional 8,756 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Docebo by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 40,903 shares of the company’s stock valued at $1,832,000 after acquiring an additional 360 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Docebo by 44.9% in the fourth 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 in the last quarter. 53.17% of the stock is currently owned by institutional investors and hedge funds.

Docebo Trading Up 2.9 %

Shares of Docebo stock opened at $29.47 on Wednesday. The stock has a 50 day moving average of $31.87 and a 200 day moving average of $41.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $892.17 million, a price-to-earnings ratio of 50.81 and a beta of 1.59. Docebo Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $53.86.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DCBO. UBS Group set a $45.00 price target on Docebo in a research report on Tuesday, March 4th. Atb Cap Markets raised shares of Docebo from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Morgan Stanley decreased their price target on shares of Docebo from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Docebo in a research note on Thursday, April 10th. Finally, Scotiabank cut their price objective on shares of Docebo from $55.00 to $45.00 and set a “sector outperform” rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Docebo has an average rating of “Buy” and an average price target of $51.36.

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.