Dark Forest Capital Management LP Takes Position in Couchbase, Inc. (NASDAQ:BASE)

Dark Forest Capital Management LP purchased a new position in shares of Couchbase, Inc. (NASDAQ:BASE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 16,442 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. NBC Securities Inc. bought a new stake in shares of Couchbase during the 1st quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Couchbase in the second quarter worth about $47,000. Point72 Hong Kong Ltd purchased a new position in Couchbase in the second quarter valued at about $67,000. Harbor Capital Advisors Inc. grew its position in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares during the period. Finally, StepStone Group LP purchased a new stake in shares of Couchbase during the 4th quarter worth approximately $133,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Margaret Chow sold 2,290 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $45,800.00. Following the completion of the sale, the senior vice president now owns 192,458 shares of the company’s stock, valued at $3,849,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Margaret Chow sold 2,290 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $45,800.00. Following the transaction, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at $3,849,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff Epstein sold 7,277 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $20.10, for a total value of $146,267.70. Following the completion of the sale, the director now directly owns 28,027 shares of the company’s stock, valued at approximately $563,342.70. The disclosure for this sale can be found here. Insiders have sold 21,220 shares of company stock valued at $422,094 in the last ninety days. Company insiders own 16.10% of the company’s stock.

Couchbase Stock Performance

Shares of BASE opened at $15.28 on Monday. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The firm has a market cap of $768.74 million, a price-to-earnings ratio of -9.32 and a beta of 0.61. The firm has a 50 day moving average price of $17.20 and a 200-day moving average price of $20.85.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results 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 business had revenue of $51.60 million during 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%. The company’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.44) earnings per share. As a group, equities research analysts predict that Couchbase, Inc. will post -1.5 earnings per share for the current year.

Analyst Ratings Changes

BASE has been the subject of several research reports. Stifel Nicolaus cut their price target on Couchbase from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Robert W. Baird reduced their target price on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Barclays dropped 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. Piper Sandler lowered their target price on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a research report on Thursday, September 5th. 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 stock. According to MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

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.