State Street Corp Raises Stock Position in Couchbase, Inc. (NASDAQ:BASE)

State Street Corp raised its holdings in Couchbase, Inc. (NASDAQ:BASE - Free Report) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 850,515 shares of the company's stock after buying an additional 33,294 shares during the quarter. State Street Corp owned about 1.66% of Couchbase worth $13,710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BASE. EVR Research LP increased its position in shares of Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company's stock valued at $38,010,000 after acquiring an additional 179,585 shares during the period. Hood River Capital Management LLC increased its holdings in shares of Couchbase by 7.8% in the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company's stock valued at $29,762,000 after purchasing an additional 118,372 shares during the period. Wasatch Advisors LP raised its stake in shares of Couchbase by 56.4% in the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company's stock worth $15,964,000 after purchasing an additional 357,169 shares during the last quarter. Portolan Capital Management LLC lifted its holdings in shares of Couchbase by 77.8% during the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company's stock worth $14,102,000 after purchasing an additional 382,851 shares during the period. Finally, Pembroke Management LTD boosted its position in Couchbase by 18.1% in the second quarter. Pembroke Management LTD now owns 809,876 shares of the company's stock valued at $14,788,000 after buying an additional 123,927 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial started coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a "buy" rating and a $21.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Wells Fargo & Company cut their price target on Couchbase from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Thursday, September 5th. Morgan Stanley decreased their price objective on Couchbase from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a "buy" rating and set a $30.00 target price on shares of Couchbase in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.13.

Couchbase Price Performance

BASE stock traded up $0.09 during trading on Thursday, hitting $15.59. The stock had a trading volume of 268,263 shares, compared to its average volume of 485,307. Couchbase, Inc. has a twelve month low of $13.53 and a twelve month high of $32.00. The company's 50-day moving average price is $17.56 and its two-hundred day moving average price is $17.30. The stock has a market capitalization of $816.11 million, a P/E ratio of -9.74 and a beta of 0.71.

Insider Buying and Selling

In related news, CFO Gregory N. Henry sold 3,853 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the sale, the chief financial officer now owns 336,679 shares of the company's stock, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the 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 owns 373,647 shares of the company's stock, 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. Over the last ninety days, insiders sold 20,876 shares of company stock worth $320,515. 16.10% of the stock is owned by corporate insiders.

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.