Couchbase, Inc. (NASDAQ:BASE) Sees Large Decline in Short Interest

Couchbase, Inc. (NASDAQ:BASEGet Free Report) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,320,000 shares, a decline of 5.7% from the November 15th total of 1,400,000 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 496,900 shares, the short-interest ratio is currently 2.7 days.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the sale, the senior vice president now directly owns 373,647 shares in the company, valued at $5,630,860.29. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the acquisition, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 10,548 shares of company stock worth $163,390 in the last three months. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EVR Research LP boosted its stake in shares of Couchbase by 9.4% during the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 shares in the last quarter. Franklin Resources Inc. boosted its stake in Couchbase by 27.3% in the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after acquiring an additional 353,233 shares in the last quarter. Hood River Capital Management LLC boosted its stake in Couchbase by 7.8% in the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock valued at $29,762,000 after acquiring an additional 118,372 shares in the last quarter. Wasatch Advisors LP boosted its stake in Couchbase by 56.4% in the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after acquiring an additional 357,169 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Couchbase by 10.3% in the third quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock valued at $15,228,000 after acquiring an additional 88,068 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BASE. Oppenheimer cut their price target on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Piper Sandler reiterated an “overweight” rating and set a $21.00 price target on shares of Couchbase in a report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Wells Fargo & Company cut their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Robert W. Baird cut their price target on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.13.

Check Out Our Latest Research Report on BASE

Couchbase Stock Performance

NASDAQ BASE opened at $15.69 on Wednesday. The firm’s 50 day moving average price is $17.68 and its 200-day moving average price is $17.49. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The company has a market cap of $821.34 million, a PE ratio of -9.81 and a beta of 0.71.

About Couchbase

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Couchbase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Couchbase and related companies with MarketBeat.com's FREE daily email newsletter.