Rhumbline Advisers Lowers Stake in Couchbase, Inc. $BASE

Rhumbline Advisers cut its position in shares of Couchbase, Inc. (NASDAQ:BASE) by 14.0% in the first 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 quarter. Rhumbline Advisers owned approximately 0.10% of Couchbase worth $870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trexquant Investment LP purchased a new stake in shares of Couchbase during the first quarter worth about $721,000. Invesco Ltd. boosted its position in shares of Couchbase by 162.2% in the first quarter. Invesco Ltd. now owns 31,378 shares of the company’s stock worth $494,000 after acquiring an additional 19,412 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Couchbase in the first quarter worth approximately $1,923,000. Bank of New York Mellon Corp boosted its position in shares of Couchbase by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company’s stock worth $2,134,000 after acquiring an additional 696 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in shares of Couchbase in the first quarter worth approximately $5,650,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BASE shares. Guggenheim reissued a “neutral” rating and issued a $26.00 target price on shares of Couchbase in a research report on Friday, September 5th. Piper Sandler cut shares of Couchbase from a “strong-buy” rating to a “hold” rating and raised their target price for the stock from $20.00 to $24.50 in a research report on Friday, June 20th. Truist Financial reissued a “hold” rating and issued a $24.50 target price (up from $21.00) on shares of Couchbase in a research report on Monday, June 23rd. Baird R W cut shares of Couchbase from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 23rd. Finally, DA Davidson cut shares of Couchbase from a “strong-buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $24.50 in a research report on Friday, June 20th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.47.

Insiders Place Their Bets

In other Couchbase news, SVP Huw Owen sold 15,873 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $24.28, for a total transaction of $385,396.44. Following the sale, the senior vice president directly owned 377,820 shares of the company’s stock, valued at approximately $9,173,469.60. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew M. Cain sold 17,669 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.38, for a total transaction of $430,770.22. Following the sale, the chief executive officer directly owned 829,738 shares in the company, valued at $20,229,012.44. This trade represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,882 shares of company stock worth $1,822,012 over the last three months. 14.80% of the stock is owned by corporate insiders.

Couchbase Price Performance

BASE opened at $24.51 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of -17.38 and a beta of 0.93. The firm’s fifty day moving average price is $24.35 and its 200 day moving average price is $20.21. Couchbase, Inc. has a 12-month low of $12.78 and a 12-month high of $25.16.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. The firm had revenue of $57.57 million for the quarter, compared to analysts’ expectations of $55.15 million. Couchbase had a negative net margin of 34.10% and a negative return on equity of 52.42%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal 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.