Couchbase (NASDAQ:BASE) Shares Down 4.9% Following Insider Selling

Couchbase, Inc. (NASDAQ:BASE) shares were down 4.9% on Wednesday after an insider sold shares in the company. The company traded as low as $17.50 and last traded at $17.38. Approximately 26,872 shares were traded during trading, a decline of 94% from the average daily volume of 416,011 shares. The stock had previously closed at $18.27.

Specifically, SVP Huw Owen sold 14,742 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $18.05, for a total transaction of $266,093.10. Following the transaction, the senior vice president now directly owns 311,251 shares in the company, valued at approximately $5,618,080.55. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays lifted their target price on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and set a $30.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Truist Financial began coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and set a $21.00 price target on shares of Couchbase in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.13.

Couchbase Stock Down 5.0 %

The firm has a fifty day moving average of $16.96 and a 200-day moving average of $17.07. The stock has a market capitalization of $908.80 million, a price-to-earnings ratio of -10.86 and a beta of 0.79.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.27). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. During the same period last year, the company posted ($0.34) EPS. As a group, research analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Couchbase

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Couchbase by 242.9% in the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after purchasing an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Couchbase by 33.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after buying an additional 93,301 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Couchbase during the 3rd quarter worth $772,000. 272 Capital LP purchased a new position in shares of Couchbase in the 3rd quarter worth $3,720,000. Finally, JPMorgan Chase & Co. increased its position in Couchbase by 169.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after purchasing an additional 120,975 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.