Couchbase, Inc. (NASDAQ:BASE) Short Interest Update

Couchbase, Inc. (NASDAQ:BASE) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 1,320,000 shares, a drop of 5.7% from the November 15th total of 1,400,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 496,900 shares, the short-interest ratio is presently 2.7 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial initiated coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 target price for the company. Barclays boosted their price objective on shares of Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley reduced their price objective on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Finally, Wedbush initiated coverage on shares of Couchbase in a research report on Thursday, October 17th. They set an “outperform” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Couchbase has a consensus rating of “Moderate Buy” and a consensus target price of $23.13.

Insider Buying and Selling at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought 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 $1,216,372.32. The trade was a 32.52 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,548 shares of company stock valued at $163,390. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Portolan Capital Management LLC increased its stake in Couchbase by 77.8% in the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after purchasing an additional 382,851 shares during the period. Wasatch Advisors LP increased its stake in shares of Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after buying an additional 357,169 shares during the period. Franklin Resources Inc. boosted its position in Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after purchasing an additional 353,233 shares in the last quarter. 272 Capital LP bought a new stake in Couchbase during the third quarter valued at about $3,720,000. Finally, EVR Research LP boosted 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 valued at $38,010,000 after purchasing an additional 179,585 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Couchbase Trading Down 0.6 %

Couchbase stock traded down $0.09 during midday trading on Tuesday, hitting $15.45. The stock had a trading volume of 43,825 shares, compared to its average volume of 484,674. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The company has a market capitalization of $808.78 million, a PE ratio of -9.71 and a beta of 0.71. The firm’s fifty day moving average is $17.68 and its two-hundred day moving average is $17.54.

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.