Couchbase, Inc. (NASDAQ:BASE) Short Interest Up 17.1% in June

Couchbase, Inc. (NASDAQ:BASE) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,440,000 shares, a growth of 17.1% from the June 15th total of 1,230,000 shares. Based on an average daily volume of 537,700 shares, the short-interest ratio is presently 2.7 days. Currently, 3.8% of the company’s stock are short sold.

Insider Activity

In related news, CEO Matthew M. Cain sold 18,101 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the transaction, the chief executive officer now owns 855,304 shares in the company, valued at $18,859,453.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew M. Cain sold 10,053 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $26.58, for a total transaction of $267,208.74. Following the transaction, the chief executive officer now directly owns 873,405 shares in the company, valued at $23,215,104.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew M. Cain sold 18,101 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the sale, the chief executive officer now owns 855,304 shares of the company’s stock, valued at approximately $18,859,453.20. The disclosure for this sale can be found here. Insiders have sold 58,695 shares of company stock worth $1,321,153 over the last ninety days. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several institutional investors and hedge funds have recently added to or reduced their stakes in BASE. NBC Securities Inc. acquired a new position in shares of Couchbase during the 1st quarter worth $26,000. AJOVista LLC bought a new position in shares of Couchbase in the fourth quarter worth about $74,000. Daiwa Securities Group Inc. acquired a new stake in shares of Couchbase in the 4th quarter valued at approximately $92,000. StepStone Group LP bought a new stake in shares of Couchbase during the 4th quarter valued at approximately $133,000. Finally, Harbor Capital Advisors Inc. increased its position in Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after purchasing an additional 1,125 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Couchbase Price Performance

BASE stock traded up $1.34 during midday trading on Monday, reaching $18.72. The company had a trading volume of 312,542 shares, compared to its average volume of 513,775. Couchbase has a 1-year low of $14.12 and a 1-year high of $32.00. The stock has a 50 day moving average price of $21.31 and a 200-day moving average price of $24.08. The company has a market capitalization of $941.80 million, a price-to-earnings ratio of -11.41 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The firm had revenue of $51.33 million for the quarter, compared to the consensus estimate of $48.52 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. As a group, research analysts anticipate that Couchbase will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BASE shares. UBS Group assumed coverage on Couchbase in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $31.00 price target on the stock. Guggenheim restated a “buy” rating and issued a $30.00 price target on shares of Couchbase in a research note on Tuesday, June 25th. Oppenheimer reduced their price objective on shares of Couchbase from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. Wells Fargo & Company dropped their price objective on shares of Couchbase from $37.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Finally, Royal Bank of Canada reduced their target price on shares of Couchbase from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.58.

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.