Couchbase, Inc. (NASDAQ:BASE) Shares Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC boosted its stake in shares of Couchbase, Inc. (NASDAQ:BASE) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,629,893 shares of the company’s stock after purchasing an additional 118,372 shares during the quarter. Hood River Capital Management LLC owned approximately 3.24% of Couchbase worth $29,762,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Couchbase by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock worth $5,641,000 after buying an additional 19,256 shares during the period. Circumference Group LLC purchased a new stake in shares of Couchbase in the 4th quarter valued at approximately $4,504,000. CenterBook Partners LP acquired a new stake in shares of Couchbase in the 4th quarter valued at $869,000. StepStone Group LP purchased a new stake in shares of Couchbase during the 4th quarter worth $133,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Couchbase during the 4th quarter worth $635,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $13.67 on Monday. Couchbase, Inc. has a 1-year low of $13.60 and a 1-year high of $32.00. The stock has a market cap of $687.74 million, a P/E ratio of -8.34 and a beta of 0.61. The firm has a fifty day moving average price of $17.57 and a 200 day moving average price of $21.32.

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

Insider Activity

In related news, Director Jeff Epstein sold 7,277 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the completion of the sale, the director now directly owns 28,027 shares of the company’s stock, valued at $563,342.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Matthew M. Cain sold 8,953 shares of Couchbase stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the sale, the chief executive officer now owns 776,437 shares of the company’s stock, valued at $15,536,504.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 7,277 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the transaction, the director now directly owns 28,027 shares of the company’s stock, valued at $563,342.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,220 shares of company stock valued at $422,094. Company insiders own 16.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped their target price on Couchbase from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies initiated coverage on Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 target price on the stock. Oppenheimer lowered their price target on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. The Goldman Sachs Group cut shares of Couchbase from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $30.00 to $18.00 in a report on Thursday, June 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

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.