Franklin Resources Inc. Has $27.38 Million Stake in Couchbase, Inc. (NASDAQ:BASE)

Franklin Resources Inc. grew its holdings in Couchbase, Inc. (NASDAQ:BASE) by 27.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,647,334 shares of the company’s stock after purchasing an additional 353,233 shares during the quarter. Franklin Resources Inc. owned about 3.21% of Couchbase worth $27,379,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Couchbase during the second quarter valued at approximately $47,000. Point72 Hong Kong Ltd bought a new position in Couchbase in the 2nd quarter valued at $67,000. Harbor Capital Advisors Inc. boosted its position in Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock valued at $112,000 after buying an additional 956 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Couchbase by 28.5% in the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after buying an additional 2,445 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Couchbase by 5.7% during the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Couchbase Price Performance

NASDAQ:BASE opened at $15.26 on Thursday. The business’s 50-day simple moving average is $17.68 and its 200-day simple moving average is $17.48. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The stock has a market capitalization of $798.83 million, a PE ratio of -9.54 and a beta of 0.71.

Analyst Upgrades and Downgrades

BASE has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Wedbush assumed coverage on shares of Couchbase in a research report on Thursday, October 17th. They set an “outperform” rating and a $26.00 price target for the company. UBS Group dropped their price target on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Truist Financial assumed coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Insiders Place Their Bets

In related news, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the transaction, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 10,548 shares of company stock worth $163,390. Company insiders own 16.10% of the company’s stock.

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.