The Manufacturers Life Insurance Company Purchases 1,865 Shares of Couchbase, Inc. (NASDAQ:BASE)

The Manufacturers Life Insurance Company increased its stake in shares of Couchbase, Inc. (NASDAQ:BASE) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,770 shares of the company’s stock after acquiring an additional 1,865 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Couchbase were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NBC Securities Inc. bought a new stake in shares of Couchbase in the 1st quarter worth approximately $26,000. Harbor Capital Advisors Inc. grew its holdings in shares of Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after acquiring an additional 1,125 shares during the period. Swiss National Bank grew its holdings in shares of Couchbase by 2.3% in the first quarter. Swiss National Bank now owns 61,700 shares of the company’s stock worth $1,623,000 after acquiring an additional 1,400 shares during the period. Arizona State Retirement System grew its holdings in shares of Couchbase by 28.5% in the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after acquiring an additional 2,445 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Couchbase during the second quarter valued at about $47,000. 96.07% of the stock is currently owned by institutional investors.

Couchbase Stock Performance

Shares of BASE opened at $16.32 on Thursday. The stock has a 50-day moving average of $16.40 and a two-hundred day moving average of $19.87. Couchbase, Inc. has a one year low of $13.53 and a one year high of $32.00. The stock has a market cap of $821.06 million, a P/E ratio of -9.95 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Analysts predict that Couchbase, Inc. will post -1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward T. Anderson acquired 21,080 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Edward T. Anderson bought 21,080 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares in the company, valued at approximately $1,216,372.32. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the company’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 value of $101,511.52. Following the completion of the transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,056 shares of company stock worth $538,135. Corporate insiders own 16.10% of the company’s stock.

Analyst Upgrades and Downgrades

BASE has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Barclays upgraded Couchbase from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research report on Monday, October 7th. Oppenheimer cut their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Piper Sandler reduced their price objective on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley cut their price target on Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.93.

About Couchbase

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.