Canada Pension Plan Investment Board Boosts Stock Position in Couchbase, Inc. (NASDAQ:BASE)

Canada Pension Plan Investment Board increased its holdings in shares of Couchbase, Inc. (NASDAQ:BASE) by 70.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,100 shares of the company’s stock after buying an additional 24,100 shares during the period. Canada Pension Plan Investment Board owned about 0.12% of Couchbase worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Couchbase during the first quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Couchbase during the 2nd quarter worth about $47,000. Harbor Capital Advisors Inc. lifted its stake in Couchbase by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after buying an additional 1,125 shares in the last quarter. StepStone Group LP acquired a new stake in Couchbase in the 4th quarter worth about $133,000. Finally, Arizona State Retirement System increased its stake in Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after buying an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BASE. Morgan Stanley decreased their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Stifel Nicolaus lowered their target price on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Piper Sandler dropped their target price on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Barclays decreased their price target on shares of Couchbase from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group lowered shares of Couchbase from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $30.00 to $18.00 in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average target price of $22.93.

Couchbase Stock Up 2.5 %

BASE stock opened at $15.29 on Friday. Couchbase, Inc. has a 52-week low of $13.53 and a 52-week high of $32.00. The business has a fifty day moving average of $17.20 and a two-hundred day moving average of $20.95. The stock has a market cap of $784.43 million, a price-to-earnings ratio of -9.32 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last issued 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. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. Couchbase’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.44) EPS. As a group, sell-side analysts anticipate that Couchbase, Inc. will post -1.5 EPS for the current year.

Insider Activity at Couchbase

In other news, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the purchase, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Couchbase news, Director Edward T. Anderson acquired 21,080 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the purchase, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew M. Cain sold 8,953 shares of Couchbase 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 completion of the transaction, the chief executive officer now owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,220 shares of company stock worth $422,094. Insiders own 16.10% of the company’s stock.

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.