Ardsley Advisory Partners LP Invests $732,000 in Couchbase, Inc. $BASE

Key Points

• Ardsley Advisory Partners LP invested $732,000 in Couchbase, acquiring 46,500 shares, representing about 0.09% ownership.
• Multiple hedge funds have increased their stakes in Couchbase, with institutional investors now owning 96.07% of the company's stock.
• Couchbase has received various analyst ratings, with an average rating of "Hold" and a consensus target price of $23.16.

Ardsley Advisory Partners LP acquired a new position in shares of Couchbase, Inc. (NASDAQ:BASE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 46,500 shares of the company's stock, valued at approximately $732,000. Ardsley Advisory Partners LP owned approximately 0.09% of Couchbase as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC grew its holdings in Couchbase by 20.5% during the first quarter. AlphaQuest LLC now owns 3,631 shares of the company's stock worth $57,000 after purchasing an additional 617 shares during the period. CWM LLC grew its holdings in Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company's stock worth $66,000 after purchasing an additional 3,067 shares during the period. State of Wyoming bought a new position in Couchbase during the first quarter worth about $100,000. Harbor Capital Advisors Inc. raised its stake in Couchbase by 33.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company's stock valued at $141,000 after acquiring an additional 2,240 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Couchbase in the 4th quarter valued at $201,000. Institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Robert W. Baird restated a "neutral" rating and issued a $25.00 price target (up previously from $22.00) on shares of Couchbase in a research note on Monday, June 23rd. Morgan Stanley increased their price objective on shares of Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. Barclays increased their price objective on shares of Couchbase from $22.00 to $24.50 and gave the company an "overweight" rating in a research report on Friday, June 20th. Royal Bank Of Canada lowered shares of Couchbase from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 20th. Finally, DA Davidson lowered shares of Couchbase from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $25.00 to $24.50 in a research report on Friday, June 20th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Couchbase currently has an average rating of "Hold" and a consensus target price of $23.16.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 15,873 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $24.28, for a total transaction of $385,396.44. Following the sale, the senior vice president directly owned 377,820 shares of the company's stock, valued at approximately $9,173,469.60. This represents a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lynn M. Christensen sold 7,933 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total value of $158,739.33. Following the sale, the director directly owned 11,987 shares in the company, valued at approximately $239,859.87. This trade represents a 39.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,241 shares of company stock worth $3,412,855 over the last quarter. 16.10% of the stock is currently owned by corporate insiders.

Couchbase Price Performance

BASE stock opened at $24.39 on Wednesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -17.80 and a beta of 0.93. The business's fifty day moving average price is $24.33 and its two-hundred day moving average price is $19.60. Couchbase, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $25.16.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $56.52 million for the quarter, compared to analysts' expectations of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%.The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. Research analysts expect that Couchbase, Inc. will post -1.48 EPS for the current year.

Couchbase 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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