Couchbase, Inc. (NASDAQ:BASE) Short Interest Update

Couchbase, Inc. (NASDAQ:BASE) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,320,000 shares, a decline of 5.7% from the November 15th total of 1,400,000 shares. Based on an average daily trading volume, of 496,900 shares, the short-interest ratio is presently 2.7 days. Approximately 3.3% of the company’s stock are short sold.

Couchbase Price Performance

BASE stock traded down $0.26 during midday trading on Monday, hitting $15.08. The company’s stock had a trading volume of 46,182 shares, compared to its average volume of 484,198. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00. The company’s fifty day moving average price is $17.67 and its 200 day moving average price is $17.60. The stock has a market capitalization of $789.41 million, a P/E ratio of -9.59 and a beta of 0.71.

Insider Buying and Selling

In other news, Director Edward T. Anderson purchased 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the acquisition, the director now owns 85,902 shares in the company, valued at $1,216,372.32. The trade was a 32.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,548 shares of company stock worth $163,390. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Portolan Capital Management LLC boosted its holdings in shares of Couchbase by 77.8% during the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after buying an additional 382,851 shares during the period. Wasatch Advisors LP boosted its holdings in Couchbase by 56.4% in 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 period. Franklin Resources Inc. boosted its holdings in Couchbase by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after purchasing an additional 353,233 shares during the period. 272 Capital LP bought a new stake in Couchbase in the 3rd quarter valued at about $3,720,000. Finally, EVR Research LP boosted its holdings in Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 shares during the period. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BASE. Wells Fargo & Company lowered their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Wedbush began coverage on Couchbase in a report on Thursday, October 17th. They set an “outperform” rating and a $26.00 price target for the company. Robert W. Baird cut their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Truist Financial started coverage on Couchbase in a report on Thursday. They set a “buy” rating and a $21.00 price target for the company. Finally, DA Davidson restated a “buy” rating and issued a $25.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.13.

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.