Couchbase, Inc. (NASDAQ:BASE) CEO Matthew M. Cain Sells 5,542 Shares

Key Points

• Couchbase, Inc. CEO Matthew M. Cain sold 5,542 shares of stock on July 31 at an average price of $24.26, totalizing $134,448.92.
• Couchbase reported $56.52 million in revenue for the last quarter, exceeding analysts' expectations, with a 10.1% year-over-year growth in revenue.
• Following recent evaluations, brokerages have downgraded Couchbase's rating to "hold," with an updated price target of $24.50 from several analysts, reflecting cautious outlooks on the stock's performance.

Couchbase, Inc. (NASDAQ:BASE - Get Free Report) CEO Matthew M. Cain sold 5,542 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $24.26, for a total value of $134,448.92. Following the completion of the transaction, the chief executive officer owned 865,306 shares of the company's stock, valued at $20,992,323.56. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Couchbase Stock Performance

Couchbase stock traded up $0.04 on Monday, reaching $24.28. The company's stock had a trading volume of 252,213 shares, compared to its average volume of 899,105. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -17.72 and a beta of 0.93. The business's fifty day moving average price is $22.27 and its 200 day moving average price is $18.61. Couchbase, Inc. has a twelve month low of $12.78 and a twelve month high of $25.16.

Couchbase (NASDAQ:BASE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The company had revenue of $56.52 million during the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. As a group, equities analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On Couchbase

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Couchbase by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company's stock valued at $79,916,000 after purchasing an additional 164,563 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock worth $42,693,000 after acquiring an additional 756,394 shares in the last quarter. EVR Research LP increased its holdings in shares of Couchbase by 2.0% in the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company's stock worth $40,378,000 after acquiring an additional 50,000 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Couchbase by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock worth $32,569,000 after acquiring an additional 441,770 shares in the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Couchbase by 72.0% in the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock worth $26,554,000 after acquiring an additional 712,936 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BASE. Rosenblatt Securities lowered Couchbase from a "strong-buy" rating to a "hold" rating and raised their price objective for the stock from $22.00 to $24.50 in a research report on Friday, June 20th. William Blair lowered Couchbase from a "strong-buy" rating to a "hold" rating in a report on Friday, June 20th. Truist Financial reissued a "hold" rating and issued a $24.50 price objective (up from $21.00) on shares of Couchbase in a research note on Monday, June 23rd. DA Davidson downgraded Couchbase from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $25.00 to $24.50 in a research note on Friday, June 20th. Finally, Piper Sandler downgraded Couchbase from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from $20.00 to $24.50 in a research report on Friday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Couchbase has an average rating of "Hold" and a consensus target price of $23.09.

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.

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