Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Docebo Inc (DCBO)

64 + Investors. Track Smart Money conviction in DCBO. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -18
Streak
5Q ▼
Buyers last Q
40%

Smart Money Signals — DCBO

Based on 64 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 5 quarters in a row

last 6Q
For 5 consecutive quarters, more hedge funds reduced or closed their DCBO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻

Below peak — only 57% of 3.0Y high

57% of all-time peak
Only 64 funds hold DCBO today versus a peak of 112 funds at 2023 Q4 — just 57% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📉

Outflows — 39% fewer funds vs a year ago

fund count last 6Q
41 fewer hedge funds hold DCBO compared to a year ago (-39% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 40% buying

34 buying50 selling
Last quarter: 50 funds reduced or exited vs 34 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~14 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 12 → 14 → 13 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

66% of holders stayed for 2+ years

■ 66% conviction (2yr+) ■ 20% medium ■ 14% new
42 out of 64 hedge funds have held DCBO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -50%, value -71%

Value
-71%
Shares
-50%
Last quarter: funds added -50% more shares while total portfolio value only changed -71%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~14 new funds/quarter

11 → 12 → 14 → 13 → 14 new funds/Q
New funds entering each quarter: 12 → 14 → 13 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 69% of holders stayed 2+ years

■ 69% veterans ■ 12% 1-2yr ■ 19% new
Of 64 current holders: 44 (69%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 22% AUM from major funds

22% from top-100 AUM funds
20 of 64 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
1.7
out of 10
Low Exit Risk
Exit risk score 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — DCBO

In 2026 Q1, 34 hedge funds were net buyers of DCBO (14 opened a new position, 20 added to an existing one), while 50 reduced or exited (18 trimmed, 32 sold completely) — a 40% buyer ratio, indicating roughly balanced activity. This extends a 5-quarter selling streak, suggesting sustained institutional caution. 22% of total institutional value in DCBO is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -18 funds (more exits than new entries). Total institutional holders: 64.

Hedge Fund Ownership: DCBO

How many hedge funds hold DCBO — quarterly history vs. share price
Quarterly hedge fund ownership of DCBO vs. share price

Market Analysis: DCBO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: DCBO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Docebo Inc (DCBO) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much DCBO has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 77d ago
DCBO
+3.3%
XLK
+44.3%

DCBO outperformed XLK by -41.0% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
DCBO
+4.8%
XLK
+8.8%

Since the filing became public, DCBO outperformed XLK by -4.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

9 top-rated funds 1 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: DCBO
64 + Investors

Track Smart Money conviction in DCBO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 64 82 -21.95%
13F Shares 6M 12M -50.08%
Total Value $76M $265M -71.37%
New Positions 14 13 +1
Increased Positions 20 23 -3
Closed Positions 32 20 +12
Reduced Positions 18 31 -13
Total Calls 0 1 -100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: DCBO

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
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Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

64 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in DCBO. Verified SEC 13F-HR filings.

QUARTER:
Top 25 DCBO holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Cat Rock Capital Management LP 2.98% 1,094,869 $19.2M
2 Topline Capital Management, LLC 2.54% 878,904 $15.4M
3 Spark Investment Management LLC 1.14% 27,000 $473K
4 NewGen Asset Management Ltd 0.60% 89,172 $1.6M
5 Essex Investment Management Co LLC 0.48% 172,367 $3.0M
6 Louisbourg Investments INC. 0.31% 94,572 $1.7M
7 Ewing Morris & Co. Investment Partners Ltd. 0.20% 25,477 $445K
8 Legato Capital Management LLC 0.08% 53,232 $930K
9 DGS Capital Management, LLC 0.03% 10,207 $178K
10 State of Wyoming 0.03% 12,791 $223K
11 Quadrature Capital Ltd 0.02% 104,300 $1.8M
12 Turtle Creek Asset Management Inc. 0.02% 36,500 $638K
13 Engineers Gate Manager LP 0.01% 48,770 $854K
14 XTX Topco Ltd 0.01% 20,730 $362K
15 Arrowstreet Capital, Limited Partnership 0.01% 615,587 $10.8M
16 Tower Research Capital LLC (TRC) 0.00% 9,690 $169K
17 Two Sigma Investments, LP 0.00% 273,932 $4.8M
18 Renaissance Technologies LLC 0.00% 108,031 $1.9M
19 Two Sigma Advisers, LP 0.00% 57,200 $1.3M
20 TD Waterhouse Canada Inc. 0.00% 43,279 $747K
21 Picton Mahoney Asset Management 0.00% 15,962 $280K
22 Sei Investments Co 0.00% 56,034 $979K
23 Lazard Asset Management LLC 0.00% 28,458 $498K
24 Adirondack Trust Co 0.00% 135 $2K
25 TD Asset Management Inc 0.00% 44,420 $776K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Docebo Inc (DCBO)

What does the Smart Money Trend signal show for DCBO?

Selling streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds reduced or closed their DCBO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for DCBO?

More sellers than buyers — 40% buying: Last quarter: 50 funds reduced or exited vs 34 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for DCBO holders?

Strong quality — 22% AUM from major funds: 20 of 64 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held DCBO?

66% of holders stayed for 2+ years: 42 out of 64 hedge funds have held DCBO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Docebo Inc (DCBO) following the 2026 Q1 hedge fund 13F filings?

As of today, DCBO has moved +4.8% since the 2026 Q1 13F filing date (May 15, 2026), compared to +8.8% for the XLK sector ETF — an outperformance of -4.0%. Since the quarter end (March 31, 2026), DCBO has gained +3.3% vs +44.3% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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