Herald Investment Management Ltd Buys 20,000 Shares of Couchbase, Inc. (NASDAQ:BASE)

Key Points

• Herald Investment Management Ltd increased its stake in Couchbase, Inc. by 11.1%, acquiring an additional 20,000 shares, bringing its total holdings to 200,000 shares worth approximately $3.15 million.
• Several hedge funds, including Vanguard Group Inc. and Wells Fargo & Company, have also expanded or established positions in Couchbase during the recent quarters, indicating strong institutional interest.
• Couchbase's stock has faced mixed ratings, with analysts recently downgrading its status, resulting in a consensus rating of "Hold" and an average target price of $23.09.

Herald Investment Management Ltd lifted its holdings in shares of Couchbase, Inc. (NASDAQ:BASE - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 200,000 shares of the company's stock after purchasing an additional 20,000 shares during the period. Herald Investment Management Ltd owned about 0.37% of Couchbase worth $3,150,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BASE. Quarry LP bought a new position in shares of Couchbase during the fourth quarter valued at approximately $35,000. Summit Investment Advisors Inc. grew its holdings in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after buying an additional 807 shares during the last quarter. CWM LLC grew its holdings in shares of Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company's stock valued at $66,000 after buying an additional 3,067 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Couchbase during the fourth quarter valued at approximately $112,000. Finally, Harbor Capital Advisors Inc. grew its holdings 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 buying an additional 2,240 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and boosted their price target for the stock from $20.00 to $24.50 in a research note on Friday, June 20th. Morgan Stanley raised their price target 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. Baird R W lowered shares of Couchbase from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 23rd. Robert W. Baird restated a "neutral" rating and set a $25.00 price target (up previously from $22.00) on shares of Couchbase in a research report on Monday, June 23rd. Finally, Wells Fargo & Company lowered shares of 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 report on Friday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $23.09.

Couchbase Price Performance

NASDAQ:BASE traded up $0.03 during mid-day trading on Tuesday, reaching $24.33. The stock had a trading volume of 407,515 shares, compared to its average volume of 878,045. The business's 50 day moving average is $23.00 and its 200 day moving average is $18.92. Couchbase, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $25.16. The stock has a market cap of $1.34 billion, a P/E ratio of -17.76 and a beta of 0.93.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its 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. The company had revenue of $56.52 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Equities analysts expect that Couchbase, Inc. will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other Couchbase news, CEO Matthew M. Cain sold 63,600 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $24.25, for a total value of $1,542,300.00. Following the completion of the transaction, the chief executive officer owned 888,747 shares of the company's stock, valued at $21,552,114.75. This represents a 6.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Huw Owen sold 15,873 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $24.28, for a total value of $385,396.44. Following the completion of the transaction, the senior vice president directly owned 377,820 shares of the company's stock, valued at approximately $9,173,469.60. The trade was a 4.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,084 shares of company stock worth $3,172,904. Company insiders own 16.10% of the company's stock.

About Couchbase

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.