XTX Topco Ltd Increases Stake in Couchbase, Inc. (NASDAQ:BASE)

Key Points

• XTX Topco Ltd has increased its stake in Couchbase, Inc. by 81.3% during the first quarter, reaching approximately $1,003,000 in value.
• Recent analysis shows a consensus rating of "Hold" for Couchbase, with an average price target of $23.09.
• Insider trading activity includes CFO and SVP selling shares, with a total of 128,542 shares worth $3,038,455 sold in the last 90 days.

XTX Topco Ltd raised its position in shares of Couchbase, Inc. (NASDAQ:BASE - Free Report) by 81.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,694 shares of the company's stock after acquiring an additional 28,562 shares during the period. XTX Topco Ltd owned approximately 0.12% of Couchbase worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Couchbase during the fourth quarter valued at $112,000. Vanguard Group Inc. boosted its stake in shares of Couchbase by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company's stock valued at $79,916,000 after purchasing an additional 164,563 shares during the period. Franklin Resources Inc. boosted its stake in shares of Couchbase by 26.8% during the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock valued at $32,569,000 after purchasing an additional 441,770 shares during the period. Geode Capital Management LLC grew its holdings in Couchbase by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 952,361 shares of the company's stock worth $14,851,000 after acquiring an additional 7,914 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Couchbase during the 4th quarter worth about $793,000. Institutional investors own 96.07% of the company's stock.

Couchbase Price Performance

NASDAQ:BASE traded down $0.01 during midday trading on Thursday, hitting $24.30. The company's stock had a trading volume of 279,669 shares, compared to its average volume of 887,083. The firm has a market cap of $1.31 billion, a P/E ratio of -17.73 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. The firm's 50 day moving average is $22.63 and its 200-day moving average is $18.75.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million for 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 revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. As a group, analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on BASE shares. Barclays increased their target price on shares of Couchbase from $22.00 to $24.50 and gave the stock an "overweight" rating in a report on Friday, June 20th. Piper Sandler cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and increased their target price for the stock from $20.00 to $24.50 in a report on Friday, June 20th. Stifel Nicolaus set a $24.50 target price on shares of Couchbase and gave the stock a "hold" rating in a report on Tuesday, June 24th. Morgan Stanley increased their price target 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. Finally, Rosenblatt Securities lowered shares of Couchbase from a "strong-buy" rating to a "hold" rating and increased their price target for the company from $22.00 to $24.50 in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $23.09.

Insider Activity at Couchbase

In related news, Director Lynn M. Christensen sold 7,933 shares of Couchbase stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total value of $158,739.33. Following the sale, the director owned 11,987 shares of the company's stock, valued at approximately $239,859.87. This trade represents a 39.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Robert Carey sold 1,321 shares of Couchbase stock in a transaction on Friday, June 20th. The shares were sold at an average price of $25.00, for a total transaction of $33,025.00. Following the completion of the sale, the chief financial officer directly owned 92,443 shares in the company, valued at $2,311,075. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,084 shares of company stock worth $3,172,904 over the last 90 days. 14.80% of the stock is owned by insiders.

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.