Couchbase (NASDAQ:BASE) Sees Unusually-High Trading Volume – Here’s Why

Couchbase, Inc. (NASDAQ:BASE) saw strong trading volume on Wednesday . 1,073,439 shares changed hands during mid-day trading, an increase of 116% from the previous session’s volume of 497,155 shares.The stock last traded at $13.18 and had previously closed at $13.17.

Analyst Upgrades and Downgrades

BASE has been the topic of a number of recent analyst reports. Piper Sandler lifted their target price on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. UBS Group reduced their price target on Couchbase from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird dropped their price objective on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. DA Davidson reissued a “buy” rating and issued a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Finally, Morgan Stanley reduced their price target on shares of Couchbase from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Stock Performance

The firm has a market cap of $705.08 million, a price-to-earnings ratio of -8.38 and a beta of 0.81. The company has a 50 day moving average price of $17.00 and a 200 day moving average price of $16.77.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The business had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. On average, research analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Huw Owen sold 7,575 shares of Couchbase stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $115,291.50. Following the completion of the transaction, the senior vice president now owns 341,709 shares in the company, valued at approximately $5,200,810.98. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.14, for a total transaction of $58,334.42. Following the transaction, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,883 shares of company stock valued at $950,915. 16.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Couchbase

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Couchbase in the fourth quarter valued at $35,000. Summit Investment Advisors Inc. boosted its holdings in 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 during the period. Daiwa Securities Group Inc. boosted its position in shares of Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after acquiring an additional 759 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Couchbase in the fourth quarter valued at about $112,000. Finally, Dark Forest Capital Management LP acquired a new stake in Couchbase during the fourth quarter worth $165,000. 96.07% of the stock is owned by institutional investors.

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.