Voya Investment Management LLC Sells 1,593,471 Shares of Couchbase, Inc. $BASE

Key Points

• Voya Investment Management LLC reduced its stake in Couchbase by 99.3%, selling 1,593,471 shares, leaving it with only 10,925 shares valued at $172,000.
• Several other institutional investors increased their positions during the 1st quarter, with a significant raise from CWM LLC of 272.9%, as institutional ownership now stands at 96.07%.
• Analyst ratings for Couchbase indicate a consensus "Hold" with a target price averaging around $23.47, while the company's stock features a one-year high of $25.16 and a low of $12.78.

Voya Investment Management LLC decreased its holdings in shares of Couchbase, Inc. (NASDAQ:BASE - Free Report) by 99.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,925 shares of the company's stock after selling 1,593,471 shares during the period. Voya Investment Management LLC's holdings in Couchbase were worth $172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC raised its position in shares of Couchbase by 20.5% during 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 raised its position in shares of Couchbase by 272.9% during the 1st quarter. CWM LLC now owns 4,191 shares of the company's stock valued at $66,000 after acquiring an additional 3,067 shares during the last quarter. State of Wyoming bought a new stake in shares of Couchbase during the 1st quarter valued at $100,000. Harbor Capital Advisors Inc. raised its position in shares of Couchbase by 33.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company's stock valued at $141,000 after acquiring an additional 2,240 shares during the last quarter. Finally, Woodline Partners LP raised its position in shares of Couchbase by 60.7% during the 1st quarter. Woodline Partners LP now owns 17,069 shares of the company's stock valued at $269,000 after acquiring an additional 6,446 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

Insider Transactions at Couchbase

In related news, CEO Matthew M. Cain sold 17,669 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.38, for a total value of $430,770.22. Following the completion of the sale, the chief executive officer directly owned 829,738 shares in the company, valued at approximately $20,229,012.44. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 53,467 shares of company stock valued at $1,301,557. Company insiders own 14.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BASE shares. Guggenheim reiterated a "neutral" rating and set a $26.00 target price on shares of Couchbase in a research report on Friday, September 5th. Royal Bank Of Canada cut shares of Couchbase from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 20th. Morgan Stanley upped their price objective on shares of Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and upped their price objective for the company from $20.00 to $24.50 in a research report on Friday, June 20th. Finally, Barclays upped their price objective on shares of Couchbase from $22.00 to $24.50 and gave the company an "overweight" rating in a research report on Friday, June 20th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $23.47.

Couchbase Price Performance

Couchbase stock opened at $24.51 on Wednesday. The firm has a 50-day moving average of $24.38 and a 200-day moving average of $20.66. Couchbase, Inc. has a one year low of $12.78 and a one year high of $25.16. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -17.38 and a beta of 0.93.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.04. Couchbase had a negative net margin of 34.10% and a negative return on equity of 52.42%. The company had revenue of $57.57 million during the quarter, compared to the consensus estimate of $55.15 million. During the same period in the prior year, the business posted ($0.06) EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Couchbase, Inc. will post -1.48 earnings per share for the current year.

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.

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