Circumference Group LLC Buys 90,000 Shares of Couchbase, Inc. (NASDAQ:BASE)

Circumference Group LLC lifted its stake in shares of Couchbase, Inc. (NASDAQ:BASE) by 64.3% in the 3rd quarter, Holdings Channel reports. The fund owned 230,000 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Couchbase accounts for approximately 3.8% of Circumference Group LLC’s investment portfolio, making the stock its 13th biggest position. Circumference Group LLC’s holdings in Couchbase were worth $3,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paloma Partners Management Co acquired a new position in Couchbase in the 3rd quarter worth $355,000. 272 Capital LP bought a new stake in shares of Couchbase in the third quarter valued at about $1,566,000. Wasatch Advisors LP lifted its holdings in shares of Couchbase by 56.4% in the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after purchasing an additional 357,169 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Couchbase during the third quarter worth about $772,000. Finally, Alpha DNA Investment Management LLC grew its holdings in shares of Couchbase by 20.4% during the third quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock worth $440,000 after buying an additional 4,629 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Stock Up 0.9 %

Shares of Couchbase stock opened at $20.51 on Monday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.90 and a beta of 0.59. Couchbase, Inc. has a twelve month low of $13.53 and a twelve month high of $32.00. The company has a 50-day simple moving average of $17.24 and a two-hundred day simple moving average of $18.35.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) earnings per share. On average, sell-side analysts anticipate that Couchbase, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $14.16 per share, with a total value of $298,492.80. Following the completion of the purchase, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 32.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the transaction, the senior vice president now owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,448 shares of company stock worth $180,742. 16.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BASE has been the topic of several research reports. Wedbush assumed coverage on Couchbase in a research note on Thursday, October 17th. They issued an “outperform” rating and a $26.00 target price on the stock. DA Davidson reduced their target price on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Oppenheimer decreased their target price on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Couchbase in a research report on Thursday, September 5th. Finally, Piper Sandler decreased their price objective on Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.