Couchbase, Inc. (NASDAQ:BASE) Sees Large Decline in Short Interest

Couchbase, Inc. (NASDAQ:BASE) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 1,320,000 shares, a drop of 5.7% from the November 15th total of 1,400,000 shares. Based on an average trading volume of 496,900 shares, the short-interest ratio is presently 2.7 days. Currently, 3.3% of the company’s stock are sold short.

Insider Activity at Couchbase

In related news, Director Edward T. Anderson bought 21,080 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the transaction, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,548 shares of company stock valued at $163,390 over the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds have recently bought and sold shares of BASE. Portolan Capital Management LLC lifted its stake 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. Wasatch Advisors LP lifted its stake in Couchbase by 56.4% in the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after purchasing an additional 357,169 shares in the last quarter. Franklin Resources Inc. lifted its stake in Couchbase by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after purchasing an additional 353,233 shares in the last quarter. 272 Capital LP purchased a new stake in Couchbase in the 3rd quarter worth $3,720,000. Finally, EVR Research LP lifted its stake in Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after purchasing an additional 179,585 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BASE shares. Wedbush started coverage on shares of Couchbase in a research report on Thursday, October 17th. They issued an “outperform” rating and a $26.00 target price for the company. Barclays boosted their price objective on shares of Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $21.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Truist Financial assumed coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Couchbase Stock Performance

BASE opened at $15.69 on Wednesday. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The firm’s fifty day moving average is $17.68 and its 200 day moving average is $17.49. The stock has a market cap of $821.34 million, a price-to-earnings ratio of -9.81 and a beta of 0.71.

About Couchbase

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.