Couchbase, Inc. (NASDAQ:BASE) Short Interest Update

Couchbase, Inc. (NASDAQ:BASE) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 1,370,000 shares, a drop of 15.4% from the September 15th total of 1,620,000 shares. Based on an average daily volume of 483,000 shares, the short-interest ratio is currently 2.8 days. Approximately 3.5% of the company’s stock are short sold.

Couchbase Price Performance

BASE stock traded up $0.53 during mid-day trading on Monday, reaching $16.62. The company had a trading volume of 609,915 shares, compared to its average volume of 504,855. The company has a market capitalization of $836.15 million, a price-to-earnings ratio of -10.13 and a beta of 0.59. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The stock has a 50 day simple moving average of $16.43 and a two-hundred day simple moving average of $20.03.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data 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. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same quarter in the prior year, the company earned ($0.44) earnings per share. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities analysts predict that Couchbase will post -1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BASE shares. Barclays upgraded shares of Couchbase from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a report on Monday, October 7th. Oppenheimer dropped their price target on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. UBS Group dropped their price objective on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company reduced their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and an average target price of $22.93.

Insider Transactions at Couchbase

In other news, CEO Matthew M. Cain sold 8,953 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total transaction of $179,149.53. Following the transaction, the chief executive officer now owns 776,437 shares in the company, valued at approximately $15,536,504.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Matthew M. Cain sold 8,953 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $20.01, for a total transaction of $179,149.53. Following the transaction, the chief executive officer now owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the acquisition, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 29,056 shares of company stock valued at $538,135 in the last three months. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently made changes to their positions in BASE. Creative Planning raised its stake in Couchbase by 59.0% in the third quarter. Creative Planning now owns 17,335 shares of the company’s stock valued at $279,000 after purchasing an additional 6,433 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in Couchbase by 33.7% in the second quarter. Dana Investment Advisors Inc. now owns 74,869 shares of the company’s stock valued at $1,367,000 after acquiring an additional 18,889 shares during the last quarter. Point72 Asset Management L.P. raised its position in Couchbase by 5.7% during the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after purchasing an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Couchbase by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Couchbase in the 2nd quarter valued at $300,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.