Washington Harbour Partners LP Acquires 26,500 Shares of Couchbase, Inc. (NASDAQ:BASE)

Washington Harbour Partners LP increased its holdings in Couchbase, Inc. (NASDAQ:BASE) by 39.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the company’s stock after purchasing an additional 26,500 shares during the period. Couchbase makes up 2.7% of Washington Harbour Partners LP’s investment portfolio, making the stock its 19th biggest holding. Washington Harbour Partners LP’s holdings in Couchbase were worth $1,506,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Couchbase by 4.1% in the third quarter. State Street Corp now owns 850,515 shares of the company’s stock worth $13,710,000 after buying an additional 33,294 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Couchbase by 121.8% in the third quarter. Point72 Asset Management L.P. now owns 28,839 shares of the company’s stock worth $465,000 after purchasing an additional 15,839 shares during the period. Portolan Capital Management LLC lifted its position in shares of Couchbase by 77.8% during 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 during the last quarter. Circumference Group LLC boosted its stake in Couchbase by 64.3% during the 3rd quarter. Circumference Group LLC now owns 230,000 shares of the company’s stock valued at $3,708,000 after purchasing an additional 90,000 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Couchbase during the 3rd quarter valued at approximately $355,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Couchbase Stock Performance

Shares of BASE stock opened at $16.47 on Friday. The firm’s 50 day moving average price is $17.54 and its two-hundred day moving average price is $18.19. The stock has a market cap of $845.31 million, a PE ratio of -10.29 and a beta of 0.71. Couchbase, Inc. has a 52-week low of $13.53 and a 52-week high of $32.00.

Couchbase (NASDAQ:BASE) last posted its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 57.01% and a negative net margin of 39.31%. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the firm earned ($0.44) earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts predict that Couchbase, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, 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 transaction, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. The trade was a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward T. Anderson bought 21,080 shares of the stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now owns 85,902 shares of the company’s stock, valued at $1,216,372.32. This trade represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 10,548 shares of company stock valued at $163,390 in the last 90 days. 16.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on BASE shares. Morgan Stanley cut their target price on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays increased their target price on shares of Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Wells Fargo & Company decreased their price objective on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Piper Sandler restated an “overweight” rating and issued a $21.00 target price on shares of Couchbase in a research note on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase 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.