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

Couchbase, Inc. (NASDAQ:BASE) shares saw unusually-high trading volume on Wednesday . Approximately 1,073,439 shares were traded during mid-day trading, an increase of 116% from the previous session’s volume of 497,155 shares.The stock last traded at $13.18 and had previously closed at $13.17.

Analyst Upgrades and Downgrades

BASE has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday, February 26th. Stifel Nicolaus increased their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays decreased their target price on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Couchbase from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Price Performance

The company has a market cap of $757.48 million, a P/E ratio of -9.04 and a beta of 0.81. The company has a 50 day moving average of $16.92 and a 200-day moving average of $16.73.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The firm had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. Research analysts anticipate that Couchbase, Inc. will post -1.48 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Huw Owen sold 7,575 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $115,291.50. Following the transaction, the senior vice president now owns 341,709 shares in the company, valued at $5,200,810.98. The trade was a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory N. Henry sold 9,820 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.62, for a total value of $173,028.40. Following the transaction, the chief financial officer now owns 304,555 shares in the company, valued at $5,366,259.10. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,030 shares of company stock valued at $892,581 over the last 90 days. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of hedge funds have recently made changes to their positions in BASE. Quarry LP bought a new position in Couchbase in the 4th quarter valued at approximately $35,000. Summit Investment Advisors Inc. increased its stake in shares of Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Couchbase in the 4th quarter worth $112,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Couchbase in the 4th quarter worth $165,000. 96.07% of the stock is owned by 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.