Connor Clark & Lunn Investment Management Ltd. Acquires 30,462 Shares of Couchbase, Inc. (NASDAQ:BASE)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Couchbase, Inc. (NASDAQ:BASE) by 73.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,829 shares of the company’s stock after buying an additional 30,462 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Couchbase worth $1,120,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BASE. Barclays PLC boosted its position in shares of Couchbase by 242.9% in the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after purchasing an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after purchasing an additional 93,301 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after purchasing an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Couchbase in the third quarter worth approximately $772,000. Finally, 272 Capital LP bought a new position in shares of Couchbase in the third quarter worth approximately $3,720,000. 96.07% of the stock is currently owned by institutional investors.

Couchbase Trading Up 4.9 %

Shares of BASE opened at $14.25 on Friday. Couchbase, Inc. has a twelve month low of $12.92 and a twelve month high of $28.67. The company has a market cap of $745.96 million, a P/E ratio of -8.91 and a beta of 0.81. The company’s fifty day simple moving average is $16.92 and its 200-day simple moving average is $16.73.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The firm had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $53.25 million. Analysts predict that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BASE. Truist Financial began coverage on shares of Couchbase in a research report on Thursday, December 12th. They issued a “buy” rating and a $21.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Barclays lowered their target price on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on shares of Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.19.

Insider Activity

In other news, SVP Huw Owen sold 7,575 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $115,291.50. Following the transaction, the senior vice president now directly owns 341,709 shares in the company, valued at approximately $5,200,810.98. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory N. Henry sold 9,820 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.62, for a total transaction of $173,028.40. Following the completion of the transaction, the chief financial officer now owns 304,555 shares in the company, valued at approximately $5,366,259.10. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,030 shares of company stock valued at $892,581. 16.10% of the stock is currently owned by company insiders.

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.