Couchbase (NASDAQ:BASE) Shares Gap Down Following Insider Selling

Couchbase, Inc. (NASDAQ:BASEGet Free Report)’s share price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $21.53, but opened at $19.10. Couchbase shares last traded at $17.14, with a volume of 327,529 shares changing hands.

Specifically, SVP Huw Owen sold 11,581 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $26.79, for a total transaction of $310,254.99. Following the completion of the sale, the senior vice president now owns 441,454 shares of the company’s stock, valued at $11,826,552.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO William Robert Carey sold 4,431 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $27.90, for a total transaction of $123,624.90. Following the completion of the sale, the chief accounting officer now directly owns 48,097 shares of the company’s stock, valued at approximately $1,341,906.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 11,581 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $26.79, for a total transaction of $310,254.99. Following the completion of the transaction, the senior vice president now directly owns 441,454 shares in the company, valued at approximately $11,826,552.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,256 shares of company stock worth $2,268,200. Insiders own 16.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BASE shares. Robert W. Baird decreased their price objective on shares of Couchbase from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday. Guggenheim boosted their target price on Couchbase from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada lowered their price target on Couchbase from $35.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley dropped their price objective on Couchbase from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company decreased 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Couchbase currently has an average rating of “Moderate Buy” and a consensus price target of $29.82.

Get Our Latest Report on Couchbase

Couchbase Stock Performance

The company has a 50 day moving average of $25.09 and a 200 day moving average of $24.64. The stock has a market capitalization of $924.18 million, a price-to-earnings ratio of -10.83 and a beta of 0.68.

Couchbase (NASDAQ:BASEGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The company had revenue of $50.09 million during the quarter, compared to the consensus estimate of $46.56 million. Couchbase had a negative net margin of 44.54% and a negative return on equity of 54.61%. As a group, research analysts expect that Couchbase, Inc. will post -1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Couchbase

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Couchbase by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after acquiring an additional 227,828 shares during the period. Hood River Capital Management LLC grew its stake in shares of Couchbase by 4.9% in the 1st quarter. Hood River Capital Management LLC now owns 1,511,521 shares of the company’s stock valued at $39,768,000 after purchasing an additional 70,766 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Couchbase in the first quarter valued at approximately $9,059,000. Acadian Asset Management LLC raised its stake in shares of Couchbase by 346.2% during the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Couchbase by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock worth $5,641,000 after purchasing an additional 19,256 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Company Profile

(Get Free Report)

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.

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