Rhumbline Advisers Sells 8,969 Shares of Couchbase, Inc. (NASDAQ:BASE)

Rhumbline Advisers cut its holdings in shares of Couchbase, Inc. (NASDAQ:BASE) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,260 shares of the company’s stock after selling 8,969 shares during the period. Rhumbline Advisers owned approximately 0.10% of Couchbase worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MetLife Investment Management LLC boosted its holdings in Couchbase by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 24,172 shares of the company’s stock worth $377,000 after purchasing an additional 1,342 shares during the last quarter. Intech Investment Management LLC purchased a new position in Couchbase during the fourth quarter worth about $249,000. Northern Trust Corp boosted its holdings in Couchbase by 11.1% during the fourth quarter. Northern Trust Corp now owns 367,884 shares of the company’s stock worth $5,735,000 after purchasing an additional 36,828 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Couchbase by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 952,361 shares of the company’s stock worth $14,851,000 after purchasing an additional 7,914 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Couchbase by 44.9% during the fourth quarter. Bank of America Corp DE now owns 106,446 shares of the company’s stock worth $1,659,000 after purchasing an additional 32,999 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BASE shares. Wells Fargo & Company restated an “equal weight” rating and set a $24.50 price target (up from $20.00) on shares of Couchbase in a report on Friday. The Goldman Sachs Group dropped their target price on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Piper Sandler reiterated a “neutral” rating and issued a $24.50 target price (up from $20.00) on shares of Couchbase in a research note on Friday. DA Davidson reiterated a “neutral” rating and issued a $24.50 target price (down from $25.00) on shares of Couchbase in a research note on Friday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Couchbase in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.56.

Insider Buying and Selling

In related news, CEO Matthew M. Cain sold 7,833 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total transaction of $156,738.33. Following the sale, the chief executive officer now owns 952,347 shares of the company’s stock, valued at approximately $19,056,463.47. This represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $15.43, for a total transaction of $245,923.34. Following the sale, the senior vice president now directly owns 427,699 shares in the company, valued at $6,599,395.57. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,904 shares of company stock valued at $622,343. Company insiders own 14.80% of the company’s stock.

Couchbase Trading Up 29.4%

Shares of BASE stock opened at $24.49 on Friday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82. The firm’s 50 day moving average is $17.95 and its 200 day moving average is $16.81. Couchbase, Inc. has a 12 month low of $12.78 and a 12 month high of $25.16.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. Couchbase’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, equities analysts predict that Couchbase, Inc. will post -1.48 EPS for the current year.

Couchbase 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.