Hood River Capital Management LLC lessened its holdings in Couchbase, Inc. (NASDAQ:BASE – Get Rating) by 34.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 603,274 shares of the company’s stock after selling 319,935 shares during the quarter. Hood River Capital Management LLC owned 1.38% of Couchbase worth $10,509,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. West Rim Capital Associates II L.P. purchased a new stake in Couchbase in the 4th quarter valued at approximately $85,017,000. Vanguard Group Inc. lifted its position in shares of Couchbase by 170.4% during the 1st quarter. Vanguard Group Inc. now owns 2,070,537 shares of the company’s stock valued at $36,069,000 after acquiring an additional 1,304,895 shares during the period. Brown Advisory Inc. lifted its position in shares of Couchbase by 6.9% during the 1st quarter. Brown Advisory Inc. now owns 1,689,422 shares of the company’s stock valued at $29,496,000 after acquiring an additional 109,600 shares during the period. First Trust Advisors LP lifted its position in shares of Couchbase by 25.3% during the 1st quarter. First Trust Advisors LP now owns 1,494,952 shares of the company’s stock valued at $26,042,000 after acquiring an additional 302,069 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Couchbase by 34.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,390,395 shares of the company’s stock valued at $24,221,000 after acquiring an additional 355,145 shares during the period. Hedge funds and other institutional investors own 64.94% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BASE shares. The Goldman Sachs Group reduced their price target on shares of Couchbase from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, June 9th. Oppenheimer reduced their price target on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, June 9th. Barclays cut their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. DA Davidson began coverage on Couchbase in a research report on Tuesday, June 14th. They set a “buy” rating and a $21.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Couchbase in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.00.
Couchbase Stock Performance
Couchbase (NASDAQ:BASE – Get Rating) last issued its quarterly earnings results on Wednesday, September 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.09. The company had revenue of $39.79 million during the quarter, compared to the consensus estimate of $35.86 million. Couchbase had a negative return on equity of 35.10% and a negative net margin of 45.80%. Couchbase’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.76) EPS. As a group, equities research analysts forecast that Couchbase, Inc. will post -1.72 earnings per share for the current fiscal year.
Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.
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