Couchbase (NASDAQ:BASE) Shares Down 6.7% After Insider Selling

Couchbase, Inc. (NASDAQ:BASE) fell 6.7% on Tuesday following insider selling activity. The stock traded as low as $14.98 and last traded at $15.04. 404,771 shares traded hands during trading, a decline of 20% from the average session volume of 505,325 shares. The stock had previously closed at $16.12.

Specifically, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BASE shares. Wells Fargo & Company dropped their price objective on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. Piper Sandler Companies assumed coverage on shares of Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 price objective on the stock. The Goldman Sachs Group downgraded Couchbase from a “neutral” rating to a “sell” rating and lowered their target price for the company from $30.00 to $18.00 in a research note on Thursday, June 6th. Finally, Robert W. Baird reduced their price target on Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.93.

Couchbase Stock Performance

The firm has a market capitalization of $756.66 million, a price-to-earnings ratio of -9.35 and a beta of 0.61. The business’s 50 day moving average is $17.14 and its 200-day moving average is $20.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Couchbase by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock worth $5,641,000 after purchasing an additional 19,256 shares during the period. Circumference Group LLC bought a new position in shares of Couchbase during the fourth quarter valued at $4,504,000. CenterBook Partners LP bought a new stake in shares of Couchbase in the 4th quarter worth about $869,000. StepStone Group LP bought a new position in Couchbase during the 4th quarter valued at about $133,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in Couchbase in the fourth quarter valued at about $635,000. 96.07% of the stock is owned by institutional investors.

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.