Insider Buying: Couchbase, Inc. (NASDAQ:BASE) Director Buys 21,080 Shares of Stock

Couchbase, Inc. (NASDAQ:BASE) Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Couchbase Stock Up 2.3 %

Shares of NASDAQ BASE traded up $0.32 during mid-day trading on Monday, reaching $13.99. 2,631,634 shares of the company were exchanged, compared to its average volume of 504,087. The company’s 50-day simple moving average is $17.57 and its 200-day simple moving average is $21.32. The stock has a market capitalization of $703.84 million, a P/E ratio of -8.34 and a beta of 0.61. Couchbase, Inc. has a twelve month low of $13.53 and a twelve month high of $32.00.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results 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 business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same period last year, the firm earned ($0.44) earnings per share. Couchbase’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities research analysts expect that Couchbase, Inc. will post -1.5 EPS for the current year.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Couchbase by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after acquiring an additional 227,828 shares during the period. EVR Research LP increased its position in Couchbase by 9.4% during the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after acquiring an additional 179,585 shares during the period. Hood River Capital Management LLC increased its position in Couchbase by 7.8% during the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock worth $29,762,000 after acquiring an additional 118,372 shares during the period. Pembroke Management LTD increased its position in Couchbase by 18.1% during the second quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock worth $14,788,000 after acquiring an additional 123,927 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Couchbase during the first quarter worth about $9,059,000. 96.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on BASE. Morgan Stanley reduced their target price on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. DA Davidson cut their price target on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company cut their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Robert W. Baird cut their price target on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler Companies assumed coverage on shares of Couchbase in a research note on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

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.