Couchbase (NASDAQ:BASE) Sees Unusually-High Trading Volume – What’s Next?

Shares of Couchbase, Inc. (NASDAQ:BASE) saw strong trading volume on Friday . 364,571 shares traded hands during mid-day trading, an increase of 0% from the previous session’s volume of 363,670 shares.The stock last traded at $18.13 and had previously closed at $17.51.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BASE. Stifel Nicolaus raised their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and set a $30.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Morgan Stanley reduced their price objective on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Finally, Robert W. Baird lowered their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Trading Down 1.3 %

The stock has a market capitalization of $905.13 million, a P/E ratio of -10.81 and a beta of 0.79. The business has a 50-day moving average price of $17.05 and a two-hundred day moving average price of $17.06.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.27). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. During the same quarter in the prior year, the firm posted ($0.34) EPS. On average, sell-side analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Gregory N. Henry sold 3,853 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 7,575 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $115,291.50. Following the completion of the sale, the senior vice president now owns 341,709 shares in the company, valued at approximately $5,200,810.98. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,233 shares of company stock worth $252,552. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in shares of Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after buying an additional 353,233 shares during the last quarter. Wasatch Advisors LP grew its position in Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after acquiring an additional 357,169 shares during the last quarter. Geode Capital Management LLC grew its position in Couchbase by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock worth $15,228,000 after acquiring an additional 88,068 shares during the last quarter. Portolan Capital Management LLC increased its holdings in Couchbase by 77.8% in the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after purchasing an additional 382,851 shares in the last quarter. Finally, State Street Corp raised its position in Couchbase by 4.1% in the third quarter. State Street Corp now owns 850,515 shares of the company’s stock valued at $13,710,000 after purchasing an additional 33,294 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.