Couchbase (NASDAQ:BASE) Trading Down 4.4%

Shares of Couchbase, Inc. (NASDAQ:BASE) dropped 4.4% during mid-day trading on Monday . The company traded as low as $24.26 and last traded at $24.34. Approximately 235,151 shares were traded during trading, a decline of 52% from the average daily volume of 485,563 shares. The stock had previously closed at $25.47.

Analyst Ratings Changes

BASE has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on Couchbase from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Royal Bank of Canada boosted their price target on shares of Couchbase from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Barclays increased their price objective on shares of Couchbase from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their price target on shares of Couchbase from $26.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, DA Davidson lifted their price objective on Couchbase from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Couchbase Price Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -14.25 and a beta of 0.69. The firm has a fifty day moving average of $26.26 and a 200 day moving average of $22.98.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.03. The firm had revenue of $50.09 million for the quarter, compared to analyst estimates of $46.56 million. Couchbase had a negative net margin of 44.54% and a negative return on equity of 54.61%. Research analysts anticipate that Couchbase, Inc. will post -1.42 earnings per share for the current fiscal year.

Insider Activity at Couchbase

In other Couchbase news, CAO William Robert Carey sold 4,431 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.90, for a total transaction of $123,624.90. Following the completion of the transaction, the chief accounting officer now owns 48,097 shares of the company’s stock, valued at $1,341,906.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO William Robert Carey sold 4,431 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.90, for a total transaction of $123,624.90. Following the completion of the transaction, the chief accounting officer now directly owns 48,097 shares in the company, valued at $1,341,906.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Margaret Chow sold 4,620 shares of Couchbase stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $27.50, for a total value of $127,050.00. Following the completion of the sale, the senior vice president now directly owns 162,103 shares of the company’s stock, valued at $4,457,832.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,228 shares of company stock worth $1,652,692. Company insiders own 22.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BASE. Circumference Group LLC acquired a new stake in Couchbase during the 4th quarter worth approximately $4,504,000. Vanguard Group Inc. raised its stake in shares of Couchbase by 3.0% in the third quarter. Vanguard Group Inc. now owns 3,359,891 shares of the company’s stock valued at $57,656,000 after acquiring an additional 97,718 shares in the last quarter. EAM Investors LLC purchased a new position in Couchbase in the third quarter valued at $1,360,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Couchbase by 74.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,352 shares of the company’s stock valued at $2,855,000 after purchasing an additional 70,978 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Couchbase during the 3rd quarter worth $1,064,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Couchbase

Couchbase, Inc provides cloud database platform for enterprise applications in the United States and internationally. Its database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. The company offers Couchbase Capella, an automated and secure Database-as-a-Service that simplifies database management by deploying, managing, and operating Couchbase Server across cloud environments; and Couchbase Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++ that allows for a various array of data manipulation functions.