Readystate Asset Management LP grew its stake in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 71.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,518 shares of the company's stock after acquiring an additional 87,976 shares during the period. Readystate Asset Management LP owned 0.39% of Couchbase worth $3,331,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in Couchbase in the 4th quarter worth about $35,000. Summit Investment Advisors Inc. boosted its stake 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 purchasing an additional 807 shares in the last quarter. CWM LLC boosted its stake 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 purchasing an additional 3,067 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Couchbase during the fourth quarter valued at approximately $112,000. Finally, 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 in the last quarter. 96.07% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BASE has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Couchbase from $18.00 to $20.00 and gave the company a "neutral" rating in a research note 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 note on Friday, June 20th. Needham & Company LLC downgraded shares of Couchbase from a "moderate buy" rating to a "hold" rating and set a $22.00 price objective on the stock. in a research note on Friday, June 20th. Baird R W downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Finally, Piper Sandler cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and increased their target price for the company from $20.00 to $24.50 in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $23.09.
Get Our Latest Research Report on BASE
Couchbase Stock Performance
Shares of NASDAQ BASE remained flat at $24.25 during midday trading on Thursday. 528,553 shares of the company's stock were exchanged, compared to its average volume of 914,367. The company's 50-day moving average is $21.46 and its 200-day moving average is $18.18. The company has a market cap of $1.31 billion, a PE ratio of -17.70 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 posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million during the quarter, compared to analysts' expectations of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter 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.
Insider Buying and Selling at Couchbase
In related news, SVP Huw Owen sold 15,873 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were 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 of the company's stock, valued at $9,173,469.60. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total transaction of $44,850.00. Following the transaction, the chief financial officer directly owned 94,780 shares of the company's stock, valued at approximately $1,848,210. This trade represents a 2.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 128,542 shares of company stock worth $3,038,455. 14.80% of the stock is currently owned by company insiders.
Couchbase Company Profile
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Free Report)
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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