Short Interest in Couchbase, Inc. (NASDAQ:BASE) Expands By 24.3%

Couchbase, Inc. (NASDAQ:BASE) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,840,000 shares, an increase of 24.3% from the March 15th total of 1,480,000 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily trading volume, of 785,800 shares, the days-to-cover ratio is currently 2.3 days.

Insider Transactions at Couchbase

In other Couchbase news, CFO Gregory N. Henry sold 9,820 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.62, for a total value of $173,028.40. Following the completion of the sale, the chief financial officer now owns 304,555 shares in the company, valued at approximately $5,366,259.10. This represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 14,742 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $18.05, for a total value of $266,093.10. Following the completion of the transaction, the senior vice president now owns 311,251 shares in the company, valued at $5,618,080.55. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,400 shares of company stock valued at $975,265 over the last quarter. 16.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Couchbase

Several hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its stake in shares of Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after purchasing an additional 759 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after acquiring an additional 807 shares during the period. Ceera Investments LLC raised its stake in shares of Couchbase by 3.0% during the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock valued at $513,000 after acquiring an additional 960 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Couchbase by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after purchasing an additional 1,076 shares during the period. Finally, MetLife Investment Management LLC grew its stake in Couchbase by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 24,172 shares of the company’s stock worth $377,000 after purchasing an additional 1,342 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BASE. The Goldman Sachs Group cut their price objective on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Couchbase from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities assumed coverage on Couchbase in a report on Wednesday, April 9th. They issued a “buy” rating and a $20.00 target price on the stock. Piper Sandler increased their price target on Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price objective on Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.76.

Couchbase Price Performance

Shares of BASE traded down $0.44 during midday trading on Monday, hitting $14.45. The stock had a trading volume of 190,478 shares, compared to its average volume of 572,078. The stock’s 50 day moving average is $15.80 and its 200 day moving average is $16.67. The firm has a market cap of $767.30 million, a PE ratio of -9.03 and a beta of 0.85. Couchbase has a 1 year low of $12.78 and a 1 year high of $28.67.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The firm had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. As a group, equities research analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

Couchbase Company 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.