Couchbase, Inc. (NASDAQ:BASE) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its stake in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 51.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,542 shares of the company's stock after selling 97,392 shares during the quarter. Readystate Asset Management LP owned about 0.18% of Couchbase worth $1,508,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Couchbase in the third quarter valued at about $772,000. Horrell Capital Management Inc. raised its position in Couchbase by 64.3% in the third quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company's stock valued at $3,708,000 after purchasing an additional 90,000 shares during the period. 272 Capital LP purchased a new position in Couchbase in the third quarter valued at about $1,566,000. Bank of New York Mellon Corp raised its position in Couchbase by 34.9% in the second quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company's stock valued at $2,997,000 after purchasing an additional 42,434 shares during the period. Finally, EVR Research LP raised its position in Couchbase by 9.4% in the second quarter. EVR Research LP now owns 2,081,585 shares of the company's stock valued at $38,010,000 after purchasing an additional 179,585 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Couchbase

In related news, Director Edward T. Anderson purchased 21,080 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost 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. This trade represents a 32.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was 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. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,548 shares of company stock worth $163,390. 16.10% of the stock is currently owned by company insiders.

Couchbase Stock Up 2.1 %

Shares of NASDAQ:BASE traded up $0.35 during trading on Thursday, hitting $16.84. 478,369 shares of the company traded hands, compared to its average volume of 482,859. The business's fifty day moving average is $17.54 and its 200-day moving average is $18.19. The stock has a market capitalization of $864.23 million, a price-to-earnings ratio of -10.31 and a beta of 0.71. Couchbase, Inc. has a one year low of $13.53 and a one year high of $32.00.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to analysts' expectations of $51.11 million. Couchbase had a negative return on equity of 57.01% and a negative net margin of 39.31%. The business's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.44) EPS. On average, analysts forecast that Couchbase, Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BASE shares. Piper Sandler reaffirmed an "overweight" rating and set a $21.00 target price on shares of Couchbase in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Couchbase from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday. Wedbush assumed coverage on Couchbase in a report on Thursday, October 17th. They set an "outperform" rating and a $26.00 price objective on the stock. Wells Fargo & Company cut their price target on shares of Couchbase from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, September 5th. Finally, Oppenheimer decreased their price objective on shares of Couchbase from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.27.

Couchbase 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.