Couchbase (NASDAQ:BASE) Stock Price Down 6.7% on Insider Selling

Couchbase, Inc. (NASDAQ:BASE)’s stock price dropped 6.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $14.98 and last traded at $15.04. Approximately 404,771 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 505,325 shares. The stock had previously closed at $16.12.

Specifically, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the sale, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BASE. The Goldman Sachs Group cut shares of Couchbase from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $30.00 to $18.00 in a research note on Thursday, June 6th. UBS Group reduced their target price on Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company lowered their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. DA Davidson reduced their price objective on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler dropped their target price on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.93.

Couchbase Price Performance

The firm has a market cap of $751.13 million, a P/E ratio of -9.10 and a beta of 0.61. The company has a fifty day moving average of $16.96 and a 200-day moving average of $20.64.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the company earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts expect that Couchbase, Inc. will post -1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Couchbase

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in shares of Couchbase by 346.2% in the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the period. Lord Abbett & CO. LLC bought a new stake in Couchbase during the 1st quarter valued at $9,059,000. Vanguard Group Inc. lifted its position in shares of Couchbase by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after acquiring an additional 227,828 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Couchbase by 918.4% in the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after acquiring an additional 107,962 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Couchbase by 21.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 190,103 shares of the company’s stock valued at $5,002,000 after purchasing an additional 33,754 shares during the period. 96.07% of the stock is currently owned by 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.