Connor Clark & Lunn Investment Management Ltd. Has $667,000 Position in Couchbase, Inc. (NASDAQ:BASE)

Connor Clark & Lunn Investment Management Ltd. cut its position in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,367 shares of the company's stock after selling 41,797 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Couchbase worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BASE. Ashton Thomas Private Wealth LLC purchased a new position in shares of Couchbase in the 2nd quarter valued at about $47,000. Point72 Hong Kong Ltd acquired a new stake in shares of Couchbase in the second quarter worth approximately $67,000. Harbor Capital Advisors Inc. grew its stake in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company's stock valued at $110,000 after buying an additional 1,125 shares during the period. Arizona State Retirement System increased its stake in Couchbase by 28.5% during the second quarter. Arizona State Retirement System now owns 11,032 shares of the company's stock worth $201,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company's stock valued at $237,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Activity

In other news, Director Edward T. Anderson acquired 21,080 shares of Couchbase stock in a transaction on Thursday, September 19th. The stock was bought at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the transaction, the director now owns 85,902 shares of the company's stock, valued at $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 accessible through this link. Also, SVP Huw Owen sold 6,736 shares of the company'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 directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,448 shares of company stock worth $180,742 over the last quarter. Corporate insiders own 16.10% of the company's stock.

Couchbase Trading Up 0.9 %

BASE stock traded up $0.18 on Friday, hitting $20.51. 192,593 shares of the company's stock traded hands, compared to its average volume of 474,043. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -12.90 and a beta of 0.59. Couchbase, Inc. has a 1-year low of $13.53 and a 1-year high of $32.00. The stock has a fifty day moving average of $17.10 and a 200-day moving average of $18.44.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 company had revenue of $51.60 million during the quarter, compared to analysts' expectations of $51.11 million. During the same period last year, the company posted ($0.44) earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities research analysts anticipate that Couchbase, Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BASE has been the topic of a number of recent analyst reports. Piper Sandler Companies began coverage on Couchbase in a research report on Friday, August 16th. They issued an "overweight" rating and a $22.00 target price on the stock. DA Davidson dropped their target price on Couchbase from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. Piper Sandler reduced their price target on shares of Couchbase from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, September 5th. Wedbush started coverage on shares of Couchbase in a research note on Thursday, October 17th. They set an "outperform" rating and a $26.00 target price for the company. Finally, Oppenheimer cut their price target on Couchbase from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. One research 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, Couchbase currently has an average rating of "Moderate Buy" and a consensus 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.