Couchbase (NASDAQ:BASE) Shares Down 6.7% Following Insider Selling

Couchbase, Inc. (NASDAQ:BASE)’s stock price was down 6.7% on Tuesday following insider selling activity. The company traded as low as $14.98 and last traded at $15.04. Approximately 404,771 shares changed hands during trading, a decline of 20% from the average daily volume of 505,325 shares. The stock had previously closed at $16.12.

Specifically, SVP Huw Owen sold 6,736 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BASE shares. Piper Sandler Companies started coverage on Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target on the stock. DA Davidson lowered their price target on Couchbase from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Barclays decreased their price objective on shares of Couchbase from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Piper Sandler reduced their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley reduced their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and an average target price of $22.93.

Couchbase Stock Down 0.8 %

The business has a fifty day moving average of $16.96 and a 200 day moving average of $20.64. The firm has a market cap of $751.13 million, a P/E ratio of -9.10 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. Research analysts expect that Couchbase, Inc. will post -1.5 EPS for the current year.

Institutional Trading of Couchbase

Several hedge funds have recently added to or reduced their stakes in BASE. NBC Securities Inc. bought a new position in Couchbase during the first quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Couchbase during the second quarter worth about $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Couchbase during the 2nd quarter worth approximately $67,000. Harbor Capital Advisors Inc. increased its stake in Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares during the last quarter. Finally, StepStone Group LP acquired a new position in Couchbase during the fourth quarter valued at approximately $133,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Couchbase Company Profile

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.