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

Couchbase, Inc. (NASDAQ:BASE) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,350,000 shares, a decline of 10.0% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 445,300 shares, the short-interest ratio is currently 3.0 days. Approximately 3.4% of the company’s shares are sold short.

Insiders Place Their Bets

In other Couchbase news, CFO Gregory N. Henry sold 3,853 shares of Couchbase stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.14, for a total value of $58,334.42. Following the transaction, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at $5,097,320.06. The trade was a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the sale, the senior vice president now owns 133,067 shares of the company’s stock, valued at $2,436,456.77. The trade was a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,883 shares of company stock valued at $950,915 over the last three months. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after buying an additional 759 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after acquiring an additional 807 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after purchasing an additional 956 shares during the last quarter. Ceera Investments LLC boosted its stake in Couchbase by 3.0% in the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after purchasing an additional 960 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Couchbase by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after purchasing an additional 1,076 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Stock Performance

Shares of BASE stock opened at $18.48 on Tuesday. The company’s fifty day moving average price is $16.67 and its 200-day moving average price is $17.00. Couchbase has a 12 month low of $13.53 and a 12 month high of $32.00.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.35) 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 quarter in the prior year, the business posted ($0.34) EPS. As a group, research analysts expect that Couchbase will post -1.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BASE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Stifel Nicolaus upped their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their target price on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Couchbase Company Profile

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.