Couchbase (NASDAQ:BASE) Shares Down 2.5% – Time to Sell?

Couchbase, Inc. (NASDAQ:BASE) was down 2.5% during mid-day trading on Wednesday . The company traded as low as $16.41 and last traded at $16.41. Approximately 37,148 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 502,424 shares. The stock had previously closed at $16.83.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BASE shares. Oppenheimer dropped their price target on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research report on Thursday, September 5th. Stifel Nicolaus dropped their price target on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. UBS Group dropped their price target on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Piper Sandler Companies assumed coverage on shares of Couchbase in a research report on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Stock Performance

The firm has a market cap of $874.89 million, a P/E ratio of -10.60 and a beta of 0.59. The stock’s 50 day simple moving average is $16.39 and its 200 day simple moving average is $19.85.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $51.11 million. During the same quarter in the previous year, the business posted ($0.44) EPS. Couchbase’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, analysts forecast that Couchbase, Inc. will post -1.5 EPS for the current fiscal year.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were 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 of the company’s stock, valued at approximately $5,630,860.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward T. Anderson purchased 21,080 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the acquisition, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 29,056 shares of company stock worth $538,135 in the last quarter. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Couchbase by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after buying an additional 227,828 shares during the period. EVR Research LP increased its position in shares of 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 buying an additional 179,585 shares during the period. Hood River Capital Management LLC increased its position in shares of Couchbase by 7.8% in the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock worth $29,762,000 after purchasing an additional 118,372 shares during the last quarter. Pembroke Management LTD increased its position in shares of Couchbase by 18.1% in the second quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock worth $14,788,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Couchbase in the first quarter worth approximately $9,059,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.