Couchbase (NASDAQ:BASE) Shares Down 7.8% – Here’s Why

Couchbase, Inc. (NASDAQ:BASE) was down 7.8% on Monday . The company traded as low as $14.53 and last traded at $14.44. Approximately 155,177 shares traded hands during trading, a decline of 70% from the average daily volume of 524,796 shares. The stock had previously closed at $15.67.

Analyst Upgrades and Downgrades

BASE has been the topic of a number of recent research reports. Barclays lowered their target price on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday, February 26th. Guggenheim lowered their price target on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler lifted their price objective on shares of Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus increased their target price on shares of Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.19.

Couchbase Stock Performance

The firm’s 50 day moving average is $16.73 and its 200-day moving average is $16.65. The company has a market cap of $857.57 million, a PE ratio of -10.09 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The company had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. On average, analysts predict that Couchbase, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the sale, the senior vice president now owns 427,699 shares of the company’s stock, valued at $6,599,395.57. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory N. Henry sold 9,820 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $17.62, for a total value of $173,028.40. Following the completion of the transaction, the chief financial officer now directly owns 304,555 shares in the company, valued at approximately $5,366,259.10. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,393 shares of company stock worth $1,023,213. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BASE. Mackenzie Financial Corp acquired a new position in Couchbase during the fourth quarter worth $382,000. Two Sigma Advisers LP raised its holdings in shares of Couchbase by 32.4% in the 4th quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock valued at $745,000 after buying an additional 11,700 shares during the period. ProShare Advisors LLC lifted its stake in Couchbase by 36.7% during the 4th quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock worth $231,000 after acquiring an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Couchbase by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Couchbase by 5.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock valued at $9,174,000 after acquiring an additional 32,078 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.