272 Capital LP Invests $3.72 Million in Couchbase, Inc. (NASDAQ:BASE)

272 Capital LP bought a new position in shares of Couchbase, Inc. (NASDAQ:BASE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 230,747 shares of the company’s stock, valued at approximately $3,720,000. Couchbase makes up about 1.9% of 272 Capital LP’s portfolio, making the stock its 20th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in BASE. Ashton Thomas Private Wealth LLC bought a new stake in Couchbase in the 2nd quarter worth about $47,000. Point72 Hong Kong Ltd bought a new stake in Couchbase in the 2nd quarter worth about $67,000. Harbor Capital Advisors Inc. grew its position in Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after purchasing an additional 956 shares in the last quarter. Arizona State Retirement System grew its position in Couchbase by 28.5% in the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Couchbase by 5.7% in the 2nd 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 in the last quarter. 96.07% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the transaction, the director now directly owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,548 shares of company stock worth $163,390. 16.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BASE. Robert W. Baird reduced their price objective on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Morgan Stanley dropped their target price on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. UBS Group dropped their target price on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.13.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $16.15 on Friday. The firm has a fifty day moving average price of $17.66 and a two-hundred day moving average price of $17.79. Couchbase, Inc. has a one year low of $13.53 and a one year high of $32.00.

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.