Circumference Group LLC Has $3.71 Million Holdings in Couchbase, Inc. (NASDAQ:BASE)

Circumference Group LLC boosted its stake in Couchbase, Inc. (NASDAQ:BASE) by 64.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,000 shares of the company’s stock after buying an additional 90,000 shares during the quarter. Couchbase makes up about 3.8% of Circumference Group LLC’s investment portfolio, making the stock its 13th largest position. Circumference Group LLC owned 0.45% of Couchbase worth $3,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Paloma Partners Management Co bought a new position in shares of Couchbase during the third quarter valued at $355,000. 272 Capital LP acquired a new stake in shares of Couchbase during the 3rd quarter worth about $1,566,000. Wasatch Advisors LP lifted its holdings in Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after purchasing an additional 357,169 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Couchbase in the third quarter valued at about $772,000. Finally, Alpha DNA Investment Management LLC grew its stake in Couchbase by 20.4% during the third quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock worth $440,000 after buying an additional 4,629 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush began coverage on shares of Couchbase in a research note on Thursday, October 17th. They issued an “outperform” rating and a $26.00 target price for the company. Barclays lifted their price objective on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 report on Thursday, September 5th. Robert W. Baird cut 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. Finally, Piper Sandler Companies initiated coverage on shares of Couchbase in a report on Friday, August 16th. They set an “overweight” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Couchbase Price Performance

Shares of NASDAQ BASE opened at $20.51 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 capitalization of $1.05 billion, a P/E ratio of -12.90 and a beta of 0.59. The company’s 50 day simple moving average is $17.24 and its 200 day simple moving average is $18.35.

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, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned ($0.44) EPS. Sell-side analysts expect that Couchbase, Inc. will post -1.51 EPS for the current fiscal year.

Insider Transactions at Couchbase

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

About Couchbase

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.