Couchbase (NASDAQ:BASE) Trading Up 5.6%

Couchbase, Inc. (NASDAQ:BASE)’s stock price traded up 5.6% during mid-day trading on Thursday . The company traded as high as $18.59 and last traded at $18.57. 160,699 shares were traded during mid-day trading, a decline of 68% from the average session volume of 503,069 shares. The stock had previously closed at $17.59.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Couchbase from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. The Goldman Sachs Group downgraded Couchbase from a “neutral” rating to a “sell” rating and cut their price target for the company from $30.00 to $18.00 in a report on Thursday, June 6th. Wells Fargo & Company dropped their target price on Couchbase from $37.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. DA Davidson dropped their target price on Couchbase from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Guggenheim restated a “buy” rating and set a $30.00 target price on shares of Couchbase in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.58.

Couchbase Stock Down 2.5 %

The company has a fifty day moving average price of $22.65 and a 200-day moving average price of $24.42.

Insider Activity

In other Couchbase news, CEO Matthew M. Cain sold 10,053 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $26.58, for a total transaction of $267,208.74. Following the completion of the transaction, the chief executive officer now owns 873,405 shares of the company’s stock, valued at $23,215,104.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Gregory N. Henry sold 3,982 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total value of $65,782.64. Following the completion of the sale, the chief financial officer now directly owns 393,060 shares in the company, valued at $6,493,351.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew M. Cain sold 10,053 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $26.58, for a total value of $267,208.74. Following the completion of the transaction, the chief executive officer now owns 873,405 shares of the company’s stock, valued at $23,215,104.90. The disclosure for this sale can be found here. Insiders sold a total of 67,848 shares of company stock valued at $1,547,562 in the last quarter. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Andar Capital Management HK Ltd purchased a new position in Couchbase in the fourth quarter worth approximately $1,216,000. Circumference Group LLC acquired a new position in Couchbase during the fourth quarter worth $4,504,000. Jump Financial LLC acquired a new position in Couchbase during the fourth quarter worth $1,373,000. Federated Hermes Inc. lifted its stake in Couchbase by 8,574.1% during the fourth quarter. Federated Hermes Inc. now owns 12,404 shares of the company’s stock worth $279,000 after purchasing an additional 12,261 shares in the last quarter. Finally, Tudor Investment Corp Et Al lifted its stake in Couchbase by 40.6% during the third quarter. Tudor Investment Corp Et Al now owns 141,261 shares of the company’s stock worth $2,424,000 after purchasing an additional 40,808 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.