Goldman Sachs Group Inc. Buys 66,719 Shares of Couchbase, Inc. $BASE

Key Points

• Goldman Sachs Group Inc. increased its stake in Couchbase, Inc. by 42.0%, acquiring an additional 66,719 shares, bringing its total ownership to 225,460 shares valued at approximately $3.55 million.
• Despite posting a 11.6% year-over-year revenue growth of $57.57 million in its recent quarter, Couchbase reported a negative earnings per share of ($0.02), beating analysts' expectations but indicating ongoing challenges.
• The stock has a consensus rating of "Hold" among analysts, with the average price target set at $23.47 following several adjustments to price objectives from multiple research firms.

Goldman Sachs Group Inc. boosted its position in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,460 shares of the company's stock after buying an additional 66,719 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.42% of Couchbase worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. AlphaQuest LLC lifted its stake in shares of Couchbase by 20.5% in the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company's stock valued at $57,000 after acquiring an additional 617 shares during the last quarter. CWM LLC increased its stake in Couchbase by 272.9% in the 1st 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 stake in Couchbase in the first quarter valued at approximately $100,000. Harbor Capital Advisors Inc. boosted its stake in shares of Couchbase by 33.3% during the first quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company's stock valued at $141,000 after purchasing an additional 2,240 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Couchbase by 36.7% during the fourth quarter. ProShare Advisors LLC now owns 14,828 shares of the company's stock valued at $231,000 after purchasing an additional 3,979 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BASE. Royal Bank Of Canada downgraded shares of Couchbase from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 20th. Wells Fargo & Company cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and boosted their price objective for the company from $20.00 to $24.50 in a research report on Friday, June 20th. Guggenheim reaffirmed a "neutral" rating and set a $26.00 price objective on shares of Couchbase in a research note on Friday, September 5th. Baird R W cut Couchbase from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Finally, Morgan Stanley boosted their price target on Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Couchbase currently has a consensus rating of "Hold" and a consensus price target of $23.47.

Insider Transactions at Couchbase

In other Couchbase news, SVP Huw Owen sold 15,873 shares of Couchbase 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 completion of the transaction, the senior vice president owned 377,820 shares in the company, valued at approximately $9,173,469.60. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew M. Cain sold 17,669 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.38, for a total transaction of $430,770.22. Following the sale, the chief executive officer directly owned 829,738 shares in the company, valued at $20,229,012.44. This trade represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,882 shares of company stock worth $1,822,012. Corporate insiders own 16.10% of the company's stock.

Couchbase Price Performance

BASE stock traded down $0.01 during midday trading on Monday, hitting $24.50. The stock had a trading volume of 2,443,646 shares, compared to its average volume of 801,232. The business has a 50-day moving average of $24.35 and a two-hundred day moving average of $20.28. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -17.38 and a beta of 0.93. Couchbase, Inc. has a 52-week low of $12.78 and a 52-week high of $25.16.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04. The firm had revenue of $57.57 million for the quarter, compared to analysts' expectations of $55.15 million. Couchbase had a negative net margin of 34.10% and a negative return on equity of 52.42%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) EPS. Research analysts predict that Couchbase, Inc. will post -1.48 earnings per share for the current year.

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.