Portolan Capital Management LLC Acquires 382,851 Shares of Couchbase, Inc. (NASDAQ:BASE)

Portolan Capital Management LLC grew its holdings in Couchbase, Inc. (NASDAQ:BASE) by 77.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 874,795 shares of the company’s stock after buying an additional 382,851 shares during the quarter. Couchbase comprises approximately 1.0% of Portolan Capital Management LLC’s holdings, making the stock its 28th largest holding. Portolan Capital Management LLC’s holdings in Couchbase were worth $14,102,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BASE. Wasatch Advisors LP raised its stake in shares of Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after acquiring an additional 357,169 shares in the last quarter. EVR Research LP raised its stake in shares of Couchbase by 9.4% during the 2nd 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 in the last quarter. Pembroke Management LTD raised its stake in shares of Couchbase by 18.1% during the 2nd 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 in the last quarter. Hood River Capital Management LLC raised its stake in shares of Couchbase by 7.8% during the 2nd 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 in the last quarter. Finally, 272 Capital LP bought a new position in shares of Couchbase during the 3rd quarter worth approximately $1,566,000. Institutional investors own 96.07% of the company’s stock.

Insiders Place Their Bets

In other Couchbase news, Director Edward T. Anderson bought 21,080 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the transaction, the director now directly owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $101,511.52. Following the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,548 shares of company stock valued at $163,390. Company insiders own 16.10% of the company’s stock.

Couchbase Stock Performance

Shares of BASE opened at $21.12 on Wednesday. The business’s 50-day moving average is $17.37 and its two-hundred day moving average is $18.25. The company has a market capitalization of $1.08 billion, a P/E ratio of -13.28 and a beta of 0.71. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) EPS. Analysts forecast that Couchbase, Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

BASE has been the topic of several research analyst reports. Robert W. Baird dropped their target price on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Barclays boosted their target price on shares of Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson dropped their target price on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley dropped their target price on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.