Readystate Asset Management LP Buys 53,000 Shares of Couchbase, Inc. (NASDAQ:BASE)

Readystate Asset Management LP lifted its stake in Couchbase, Inc. (NASDAQ:BASE) by 58.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,448 shares of the company’s stock after purchasing an additional 53,000 shares during the period. Readystate Asset Management LP’s holdings in Couchbase were worth $3,230,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Couchbase by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 3,801,595 shares of the company’s stock worth $85,612,000 after purchasing an additional 441,704 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Couchbase by 16.0% in the second quarter. BlackRock Inc. now owns 2,419,606 shares of the company’s stock worth $38,278,000 after purchasing an additional 333,433 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Couchbase by 1.4% in the fourth quarter. Bamco Inc. NY now owns 2,354,581 shares of the company’s stock worth $31,222,000 after purchasing an additional 33,046 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Couchbase by 25.3% in the first quarter. First Trust Advisors LP now owns 1,494,952 shares of the company’s stock worth $26,042,000 after purchasing an additional 302,069 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Couchbase by 14.8% in the third quarter. Morgan Stanley now owns 1,221,777 shares of the company’s stock worth $20,966,000 after purchasing an additional 157,347 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Huw Owen sold 1,376 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $34,400.00. Following the transaction, the senior vice president now owns 384,571 shares in the company, valued at $9,614,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Huw Owen sold 1,376 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $34,400.00. Following the transaction, the senior vice president now owns 384,571 shares in the company, valued at $9,614,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gregory N. Henry sold 18,747 shares of the company’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 in the company, valued at approximately $9,205,351.68. The disclosure for this sale can be found here. Insiders have sold a total of 65,104 shares of company stock worth $1,774,592 over the last 90 days. 22.50% of the stock is currently owned by corporate insiders.

Couchbase Price Performance

Shares of BASE stock traded down $0.52 during mid-day trading on Wednesday, hitting $23.83. 313,812 shares of the stock traded hands, compared to its average volume of 495,270. The stock has a market cap of $1.17 billion, a P/E ratio of -14.02 and a beta of 0.69. The stock’s fifty day moving average is $26.91 and its two-hundred day moving average is $22.47. Couchbase, Inc. has a 52-week low of $13.97 and a 52-week high of $32.00.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.03. The business had revenue of $50.09 million during the quarter, compared to analyst estimates 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, equities analysts forecast that Couchbase, Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BASE has been the topic of a number of research analyst reports. Guggenheim upped their price target on shares of Couchbase from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Stifel Nicolaus upped their price objective on shares of Couchbase from $24.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays upped their price objective on shares of Couchbase from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on shares of Couchbase from $20.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, DA Davidson upped their price objective on shares of Couchbase from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.40.

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.