Couchbase, Inc. (NASDAQ:BASE) Short Interest Up 21.5% in March

Couchbase, Inc. (NASDAQ:BASE) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,470,000 shares, an increase of 21.5% from the March 15th total of 1,210,000 shares. Based on an average daily volume of 502,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 4.2% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BASE shares. DA Davidson upped their price target on shares of Couchbase from $27.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada upped their price target on Couchbase from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Guggenheim raised their price objective on Couchbase from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on Couchbase from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, Wells Fargo & Company increased their price target on Couchbase from $26.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.40.

Insider Buying and Selling

In other Couchbase news, CFO Gregory N. Henry sold 18,747 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.84, for a total transaction of $521,916.48. Following the transaction, the chief financial officer now owns 330,652 shares of the company’s stock, valued at approximately $9,205,351.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO William Robert Carey sold 4,431 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.90, for a total value of $123,624.90. Following the sale, the chief accounting officer now owns 48,097 shares of the company’s stock, valued at approximately $1,341,906.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory N. Henry sold 18,747 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.84, for a total value of $521,916.48. Following the completion of the sale, the chief financial officer now owns 330,652 shares of the company’s stock, valued at approximately $9,205,351.68. The disclosure for this sale can be found here. Insiders sold 55,051 shares of company stock valued at $1,531,812 over the last 90 days. 22.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in shares of Couchbase in the first quarter valued at approximately $26,000. Metropolitan Life Insurance Co NY bought a new stake in Couchbase during the first quarter valued at about $30,000. Ameritas Investment Partners Inc. grew its position in shares of Couchbase by 145.6% in the first quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock valued at $32,000 after purchasing an additional 1,080 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Couchbase in the third quarter worth about $67,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Couchbase by 65.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,831 shares of the company’s stock worth $69,000 after purchasing an additional 1,913 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Stock Down 2.6 %

Shares of Couchbase stock traded down $0.65 on Monday, hitting $24.02. 526,759 shares of the company traded hands, compared to its average volume of 499,183. Couchbase has a 12-month low of $13.97 and a 12-month high of $32.00. The company has a market cap of $1.18 billion, a PE ratio of -14.13 and a beta of 0.69. The company has a 50-day moving average price of $27.03 and a 200 day moving average price of $22.41.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Couchbase had a negative net margin of 44.54% and a negative return on equity of 54.61%. The company had revenue of $50.09 million during the quarter, compared to the consensus estimate of $46.56 million. Equities research analysts anticipate that Couchbase will post -1.42 EPS for the current year.

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.