Connor Clark & Lunn Investment Management Ltd. Sells 41,797 Shares of Couchbase, Inc. (NASDAQ:BASE)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Couchbase, Inc. (NASDAQ:BASE) by 50.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,367 shares of the company’s stock after selling 41,797 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Couchbase worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new stake in Couchbase during the second quarter worth $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Couchbase during the 2nd quarter worth $67,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Couchbase by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after buying an additional 1,125 shares during the last quarter. Arizona State Retirement System grew its position in Couchbase by 28.5% during the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after buying an additional 2,445 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Stock Performance

Couchbase stock opened at $20.33 on Friday. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The stock has a market cap of $1.04 billion, a P/E ratio of -12.79 and a beta of 0.59. The firm’s fifty day moving average price is $16.97 and its 200-day moving average price is $18.43.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.44) EPS. Sell-side analysts predict that Couchbase, Inc. will post -1.51 earnings per share for the current year.

Insider Activity

In other news, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This represents a 32.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares of the company’s stock, valued at $5,630,860.29. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,448 shares of company stock worth $180,742. 16.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BASE. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Thursday, September 5th. Morgan Stanley lowered their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird decreased their price objective on Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Barclays boosted their price objective on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler Companies started coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.