Couchbase (NASDAQ:BASE) Trading 4.3% Higher - Here's What Happened

Couchbase, Inc. (NASDAQ:BASE - Get Free Report)'s share price was up 4.3% during mid-day trading on Thursday . The company traded as high as $13.95 and last traded at $14.16. Approximately 96,195 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 501,803 shares. The stock had previously closed at $13.58.

Analysts Set New Price Targets

A number of research firms have weighed in on BASE. Royal Bank of Canada reduced their price objective on shares of Couchbase from $25.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and issued a $22.00 price objective on shares of Couchbase in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Couchbase from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. DA Davidson reissued a "buy" rating and issued a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price target on Couchbase from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.19.

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Couchbase Stock Performance

The stock has a market cap of $759.05 million, a P/E ratio of -9.06 and a beta of 0.81. The business's 50-day moving average price is $16.89 and its 200-day moving average price is $16.66.

Couchbase (NASDAQ:BASE - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. As a group, equities research analysts expect that Couchbase, Inc. will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Huw Owen sold 2,993 shares of Couchbase stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.02, for a total transaction of $47,947.86. Following the transaction, the senior vice president now owns 325,993 shares in the company, valued at approximately $5,222,407.86. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the sale, the senior vice president now owns 133,067 shares of the company's stock, valued at $2,436,456.77. The trade was a 10.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,455 shares of company stock valued at $777,289. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Couchbase

Several large investors have recently made changes to their positions in BASE. Daiwa Securities Group Inc. raised its stake in Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock valued at $65,000 after purchasing an additional 759 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after buying an additional 807 shares during the last quarter. Ceera Investments LLC lifted its holdings in shares of Couchbase by 3.0% in the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company's stock worth $513,000 after buying an additional 960 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Couchbase by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company's stock worth $349,000 after acquiring an additional 1,076 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Couchbase by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 24,172 shares of the company's stock valued at $377,000 after acquiring an additional 1,342 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Couchbase

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.