Envestnet Asset Management Inc. Takes $959,000 Position in Couchbase, Inc. (NASDAQ:BASE)

Key Points

• Envestnet Asset Management Inc. purchased 60,882 shares of Couchbase, Inc., valued at approximately $959,000, increasing its stake to about 0.11% of the company.
• Insider trading revealed that Couchbase's CFO sold 1,321 shares for about $33,025, while the SVP sold 15,873 shares for approximately $385,396 in recent months.
• Despite a recent positive earnings report, Couchbase's stock has experienced varying ratings, with the majority of analysts now holding a "hold" rating and raising price targets for the stock.

Envestnet Asset Management Inc. purchased a new position in Couchbase, Inc. (NASDAQ:BASE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 60,882 shares of the company's stock, valued at approximately $959,000. Envestnet Asset Management Inc. owned about 0.11% of Couchbase at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BASE. MetLife Investment Management LLC boosted its position in Couchbase by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 24,172 shares of the company's stock worth $377,000 after acquiring an additional 1,342 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Couchbase by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company's stock worth $2,134,000 after acquiring an additional 696 shares during the period. Congress Asset Management Co. acquired a new position in Couchbase during the 1st quarter worth $5,650,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Couchbase by 33.3% in the first quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company's stock valued at $141,000 after buying an additional 2,240 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Couchbase by 11.1% during the fourth quarter. Northern Trust Corp now owns 367,884 shares of the company's stock worth $5,735,000 after purchasing an additional 36,828 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Couchbase news, CFO William Robert Carey sold 1,321 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $25.00, for a total value of $33,025.00. Following the sale, the chief financial officer directly owned 92,443 shares in the company, valued at approximately $2,311,075. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew M. Cain sold 5,542 shares of the company's 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 transaction, the chief executive officer directly owned 865,306 shares in the company, valued at $20,992,323.56. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,084 shares of company stock valued at $3,172,904 over the last 90 days. Insiders own 16.10% of the company's stock.

Couchbase Trading Down 0.0%

NASDAQ BASE traded down $0.01 during trading on Wednesday, hitting $24.28. 115,735 shares of the company's stock were exchanged, compared to its average volume of 890,186. The stock's 50 day moving average price is $22.51 and its two-hundred day moving average price is $18.71. The company has a market cap of $1.31 billion, a PE ratio of -17.72 and a beta of 0.93. 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 issued its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) EPS. Analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on BASE. Robert W. Baird restated a "neutral" rating and issued a $25.00 price objective (up from $22.00) on shares of Couchbase in a research report on Monday, June 23rd. Morgan Stanley raised their target price on shares of Couchbase from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. Royal Bank Of Canada cut shares of Couchbase from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 20th. DA Davidson downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $25.00 to $24.50 in a research note on Friday, June 20th. Finally, UBS Group lifted their price target on Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Couchbase presently has a consensus rating of "Hold" and an average price target 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.