Harbor Capital Advisors Inc. Buys 2,240 Shares of Couchbase, Inc. (NASDAQ:BASE)

Harbor Capital Advisors Inc. lifted its stake in shares of Couchbase, Inc. (NASDAQ:BASE) by 33.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,972 shares of the company’s stock after purchasing an additional 2,240 shares during the period. Harbor Capital Advisors Inc.’s holdings in Couchbase were worth $141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BASE. Quarry LP bought a new stake in Couchbase in the 4th quarter valued at $35,000. Summit Investment Advisors Inc. raised its stake in Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after acquiring an additional 807 shares during the period. Daiwa Securities Group Inc. raised its stake in Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after acquiring an additional 759 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Couchbase in the 4th quarter valued at $112,000. Finally, Dark Forest Capital Management LP bought a new stake in Couchbase in the 4th quarter valued at $165,000. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BASE. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday, June 4th. Morgan Stanley increased their price target on Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 4th. Piper Sandler increased their price target on Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Guggenheim dropped their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird upped their price objective on Couchbase from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.65.

Insider Transactions at Couchbase

In other news, CFO William Robert Carey sold 2,300 shares of Couchbase stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total value of $44,850.00. Following the completion of the transaction, the chief financial officer now owns 94,780 shares in the company, valued at $1,848,210. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the transaction, the senior vice president now directly owns 427,699 shares of the company’s stock, valued at approximately $6,599,395.57. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,138 shares of company stock worth $306,865 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

Couchbase Price Performance

Shares of BASE opened at $19.05 on Monday. Couchbase, Inc. has a 1 year low of $12.78 and a 1 year high of $21.54. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -11.91 and a beta of 0.82. The business has a 50-day moving average of $17.42 and a 200-day moving average of $16.77.

Couchbase (NASDAQ:BASE) last released its earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The business had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $55.59 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Couchbase, Inc. will post -1.48 EPS for the current year.

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.