Wasatch Advisors LP Has $15.96 Million Stake in Couchbase, Inc. (NASDAQ:BASE)

Wasatch Advisors LP grew its position in shares of Couchbase, Inc. (NASDAQ:BASE - Free Report) by 56.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 990,331 shares of the company's stock after buying an additional 357,169 shares during the period. Wasatch Advisors LP owned about 1.93% of Couchbase worth $15,964,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in Couchbase by 5.7% during the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company's stock worth $237,000 after purchasing an additional 700 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Couchbase by 15.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company's stock worth $112,000 after purchasing an additional 956 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Couchbase by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company's stock worth $379,000 after buying an additional 1,865 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Couchbase by 28.5% in the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company's stock valued at $201,000 after buying an additional 2,445 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Couchbase during the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Insiders Place Their Bets

In other news, SVP Huw Owen sold 6,736 shares of the stock in a transaction on Friday, September 27th. The stock was 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 in the company, valued at approximately $5,630,860.29. This represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward T. Anderson acquired 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The shares were bought at an average cost of $14.16 per share, with a total value of $298,492.80. Following the completion of the purchase, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 11,448 shares of company stock worth $180,742. 16.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BASE shares. Oppenheimer cut their target price on shares of Couchbase from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on Couchbase from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Thursday, September 5th. DA Davidson lowered their price objective on Couchbase from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 target price on shares of Couchbase in a research note on Thursday, September 5th. Finally, Piper Sandler lowered their price target on shares of Couchbase from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.40.

Couchbase Price Performance

Shares of NASDAQ BASE traded up $0.18 during mid-day trading on Friday, reaching $20.51. 192,612 shares of the company traded hands, compared to its average volume of 283,923. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The firm has a market cap of $1.05 billion, a PE ratio of -12.90 and a beta of 0.59. The stock has a fifty day simple moving average of $17.24 and a 200-day simple moving average of $18.35.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company 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 54.84% and a negative net margin of 39.51%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the firm earned ($0.44) EPS. As a group, analysts predict that Couchbase, Inc. will post -1.51 EPS for the current fiscal year.

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.