Couchbase, Inc. (NASDAQ:BASE) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of Couchbase, Inc. (NASDAQ:BASE) by 28.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,032 shares of the company’s stock after acquiring an additional 2,445 shares during the period. Arizona State Retirement System’s holdings in Couchbase were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in Couchbase during the first quarter worth about $9,059,000. Vanguard Group Inc. increased its stake in shares of Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after purchasing an additional 227,828 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the last quarter. Circumference Group LLC acquired a new position in shares of Couchbase during the 4th quarter worth approximately $4,504,000. Finally, Pembroke Management LTD lifted its stake in Couchbase by 18.1% in the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after buying an additional 123,927 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research note on Tuesday, June 25th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research note on Thursday, September 5th. Barclays lowered their target price on shares of Couchbase from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Piper Sandler reduced their price target on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, Oppenheimer lowered their price objective on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

Insider Activity at Couchbase

In other news, SVP Huw Owen sold 7,792 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $16.84, for a total value of $131,217.28. Following the completion of the sale, the senior vice president now directly owns 405,123 shares of the company’s stock, valued at approximately $6,822,271.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Couchbase news, SVP Huw Owen sold 7,792 shares of Couchbase stock in a transaction on Monday, June 24th. The shares were sold at an average price of $16.84, for a total value of $131,217.28. Following the sale, the senior vice president now directly owns 405,123 shares in the company, valued at approximately $6,822,271.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.01, for a total value of $179,149.53. Following the transaction, the chief executive officer now directly owns 776,437 shares in the company, valued at approximately $15,536,504.37. The disclosure for this sale can be found here. Insiders sold a total of 29,012 shares of company stock valued at $553,312 over the last quarter. Corporate insiders own 16.10% of the company’s stock.

Couchbase Stock Performance

Shares of BASE stock opened at $13.92 on Thursday. The stock’s 50 day simple moving average is $17.77 and its 200 day simple moving average is $21.61. Couchbase, Inc. has a twelve month low of $13.91 and a twelve month high of $32.00. The company has a market capitalization of $700.32 million, a price-to-earnings ratio of -8.49 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. Couchbase’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.44) earnings per share. On average, analysts forecast that Couchbase, Inc. will post -1.5 EPS 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.