Couchbase, Inc. (NASDAQ:BASE) Sees Large Decrease in Short Interest

Couchbase, Inc. (NASDAQ:BASE) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,280,000 shares, a decline of 11.1% from the June 30th total of 1,440,000 shares. Based on an average daily volume of 531,100 shares, the short-interest ratio is presently 2.4 days. Approximately 3.4% of the shares of the company are short sold.

Couchbase Stock Performance

BASE traded down $0.24 during midday trading on Tuesday, hitting $19.56. 121,093 shares of the company traded hands, compared to its average volume of 505,976. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00. The business has a 50 day simple moving average of $19.67 and a two-hundred day simple moving average of $23.84.

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

Insiders Place Their Bets

In other Couchbase news, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Couchbase news, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew M. Cain sold 10,053 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $26.58, for a total transaction of $267,208.74. Following the sale, the chief executive officer now directly owns 873,405 shares in the company, valued at approximately $23,215,104.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,215 shares of company stock valued at $1,692,370. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BASE. Lord Abbett & CO. LLC purchased a new position in Couchbase during the first quarter valued at $9,059,000. Vanguard Group Inc. lifted its stake in shares of Couchbase by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after buying an additional 227,828 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Couchbase by 346.2% in the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after buying an additional 204,396 shares in the last quarter. Circumference Group LLC purchased a new position in shares of Couchbase in the fourth quarter worth about $4,504,000. Finally, Sei Investments Co. lifted its stake 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 buying an additional 107,962 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BASE shares. Robert W. Baird cut their price objective on shares of Couchbase from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. DA Davidson cut their price objective on shares of Couchbase from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Company cut their price objective on shares of Couchbase from $37.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Barclays cut their price objective on shares of Couchbase from $33.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Finally, Royal Bank of Canada dropped their price target on shares of Couchbase from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Couchbase presently has a consensus rating of “Moderate Buy” and an average target price of $28.58.

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.