Couchbase (NASDAQ:BASE) Stock Price Down 4.9% After Insider Selling

Couchbase, Inc. (NASDAQ:BASE - Get Free Report)'s share price traded down 4.9% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $17.50 and last traded at $17.38. 26,872 shares were traded during mid-day trading, a decline of 94% from the average session volume of 416,011 shares. The stock had previously closed at $18.27.

Specifically, SVP Huw Owen sold 14,742 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $18.05, for a total transaction of $266,093.10. Following the completion of the sale, the senior vice president now directly owns 311,251 shares of the company's stock, valued at approximately $5,618,080.55. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of brokerages have issued reports on BASE. Guggenheim restated a "buy" rating and issued a $30.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Morgan Stanley reduced their price target on shares of Couchbase from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 4th. Truist Financial began coverage on shares of Couchbase in a research report on Thursday, December 12th. They issued a "buy" rating and a $21.00 price objective on the stock. DA Davidson reissued a "buy" rating and set a $25.00 target price on shares of Couchbase in a research report on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of Couchbase from $19.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Couchbase currently has an average rating of "Moderate Buy" and a consensus target price of $23.13.

Couchbase Trading Down 0.5 %

The firm has a market cap of $909.84 million, a PE ratio of -10.86 and a beta of 0.79. The stock has a fifty day simple moving average of $16.90 and a two-hundred day simple moving average of $17.07.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its earnings results on Tuesday, December 3rd. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.27). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts predict that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Couchbase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC increased its stake in Couchbase by 77.8% during the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company's stock valued at $14,102,000 after purchasing an additional 382,851 shares in the last quarter. Wasatch Advisors LP increased its position 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 acquiring an additional 357,169 shares in the last quarter. Franklin Resources Inc. raised its holdings in Couchbase by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company's stock worth $27,379,000 after acquiring an additional 353,233 shares during the last quarter. 272 Capital LP bought a new position in Couchbase in the 3rd quarter valued at approximately $3,720,000. Finally, JPMorgan Chase & Co. boosted its stake in Couchbase by 169.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company's stock valued at $3,099,000 after purchasing an additional 120,975 shares during the last quarter. 96.07% of the stock is currently 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.