Insider Selling: Couchbase, Inc. (NASDAQ:BASE) Director Sells 7,933 Shares of Stock

Couchbase, Inc. (NASDAQ:BASE - Get Free Report) Director Lynn M. Christensen sold 7,933 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total transaction of $158,739.33. Following the sale, the director now owns 11,987 shares of the company's stock, valued at $239,859.87. This trade represents a 39.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Couchbase Stock Down 3.5%

NASDAQ:BASE traded down $0.68 during mid-day trading on Wednesday, reaching $18.93. The company's stock had a trading volume of 532,675 shares, compared to its average volume of 594,984. The stock has a fifty day moving average of $17.62 and a 200-day moving average of $16.78. Couchbase, Inc. has a 1 year low of $12.78 and a 1 year high of $21.54.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. Couchbase's revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. As a group, research analysts anticipate that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Couchbase

Several hedge funds and other institutional investors have recently modified their holdings of BASE. Quarry LP purchased a new position in shares of Couchbase during the fourth quarter worth $35,000. AlphaQuest LLC grew its stake in shares of Couchbase by 20.5% during the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company's stock worth $57,000 after purchasing an additional 617 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock worth $65,000 after purchasing an additional 759 shares during the period. Summit Investment Advisors Inc. grew its stake in Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after acquiring an additional 807 shares during the period. Finally, CWM LLC grew its stake in Couchbase by 272.9% in 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 period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BASE. Wells Fargo & Company lowered their price target on shares of Couchbase from $23.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Guggenheim decreased their price target on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley upped their price target on shares of Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. Robert W. Baird boosted their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Couchbase from $18.00 to $16.00 and set a "sell" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.