Charles Schwab Investment Management Inc. Decreases Position in Couchbase, Inc. $BASE

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Couchbase, Inc. by 15.2%, selling 60,281 shares, and now owns 336,418 shares valued at approximately $5.3 million.
• Equities analysts have issued mixed ratings for Couchbase, with a consensus rating of "Hold" and an average target price of $23.16, despite several price target increases.
• CEO Matthew M. Cain sold 63,600 shares of Couchbase stock worth over $1.5 million, decreasing his ownership by 6.68% as of June 20th.

Charles Schwab Investment Management Inc. lowered its stake in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,418 shares of the company's stock after selling 60,281 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Couchbase worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BASE. Congress Asset Management Co. acquired a new stake in shares of Couchbase during the 1st quarter worth about $5,650,000. Readystate Asset Management LP grew its stake in Couchbase by 71.2% during the 1st quarter. Readystate Asset Management LP now owns 211,518 shares of the company's stock worth $3,331,000 after buying an additional 87,976 shares during the last quarter. Circumference Group LLC grew its stake in Couchbase by 34.8% during the 4th quarter. Circumference Group LLC now owns 310,000 shares of the company's stock worth $4,833,000 after buying an additional 80,000 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Couchbase during the 1st quarter worth approximately $959,000. Finally, BNP Paribas Financial Markets purchased a new position in Couchbase during the 4th quarter worth approximately $657,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Couchbase Price Performance

Shares of Couchbase stock remained flat at $24.39 during trading on Tuesday. The company had a trading volume of 777,699 shares, compared to its average volume of 557,250. Couchbase, Inc. has a 12-month low of $12.78 and a 12-month high of $25.16. The firm has a market capitalization of $1.35 billion, a P/E ratio of -17.80 and a beta of 0.93. The business's 50-day simple moving average is $24.33 and its 200 day simple moving average is $19.60.

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

Wall Street Analyst Weigh In

BASE has been the topic of a number of research reports. Baird R W downgraded Couchbase from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Truist Financial restated a "hold" rating and set a $24.50 price target (up previously from $21.00) on shares of Couchbase in a research note on Monday, June 23rd. Morgan Stanley raised their price target on Couchbase from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. UBS Group lifted their target price on Couchbase from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Piper Sandler downgraded Couchbase from a "strong-buy" rating to a "hold" rating and lifted their target price for the company from $20.00 to $24.50 in a research note on Friday, June 20th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Couchbase presently has an average rating of "Hold" and an average target price of $23.16.

Insiders Place Their Bets

In related news, SVP Huw Owen sold 15,873 shares of Couchbase stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $24.28, for a total value of $385,396.44. Following the sale, the senior vice president directly owned 377,820 shares in the company, valued at $9,173,469.60. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lynn M. Christensen sold 7,933 shares of the business's 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 owned 11,987 shares in the company, valued at approximately $239,859.87. The trade was a 39.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,541 shares of company stock valued at $3,457,705 in the last three months. 16.10% of the stock is owned by corporate insiders.

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.