Acadian Asset Management LLC Purchases 46,298 Shares of Couchbase, Inc. (NASDAQ:BASE)

Acadian Asset Management LLC boosted its position in shares of Couchbase, Inc. (NASDAQ:BASE) by 17.6% in the second quarter, Holdings Channel reports. The fund owned 309,737 shares of the company’s stock after purchasing an additional 46,298 shares during the quarter. Acadian Asset Management LLC’s holdings in Couchbase were worth $5,653,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System grew its stake in shares of Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after purchasing an additional 2,445 shares during the period. Rhumbline Advisers boosted its holdings in shares of Couchbase by 14.3% in the second quarter. Rhumbline Advisers now owns 53,544 shares of the company’s stock worth $978,000 after buying an additional 6,707 shares during the last quarter. Pembroke Management LTD grew its position in Couchbase by 18.1% during the second quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after buying an additional 123,927 shares during the period. Bank of New York Mellon Corp increased its holdings in Couchbase by 34.9% during the second quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock valued at $2,997,000 after buying an additional 42,434 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Couchbase in the second quarter worth approximately $1,283,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Price Performance

Couchbase stock opened at $14.66 on Thursday. The stock has a market cap of $737.54 million, a price-to-earnings ratio of -8.94 and a beta of 0.61. The firm has a 50-day moving average of $18.05 and a two-hundred day moving average of $22.04. Couchbase, Inc. has a 1 year low of $14.12 and a 1 year high of $32.00.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. Research analysts expect that Couchbase, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group lowered Couchbase from a “neutral” rating to a “sell” rating and cut their price target for the company from $30.00 to $18.00 in a report on Thursday, June 6th. Piper Sandler Companies assumed coverage on Couchbase in a research note on Friday, August 16th. They set an “overweight” rating and a $22.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Barclays dropped their price target on shares of Couchbase from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, Guggenheim restated a “buy” rating and set a $30.00 price objective on shares of Couchbase in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and a consensus price target of $22.93.

Insiders Place Their Bets

In other news, CFO Gregory N. Henry sold 3,982 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.52, for a total value of $65,782.64. Following the completion of the sale, the chief financial officer now owns 393,060 shares in the company, valued at approximately $6,493,351.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Gregory N. Henry sold 3,982 shares of Couchbase stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total value of $65,782.64. Following the transaction, the chief financial officer now directly owns 393,060 shares in the company, valued at approximately $6,493,351.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Huw Owen sold 2,993 shares of Couchbase stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.53, for a total value of $49,474.29. Following the completion of the transaction, the senior vice president now owns 412,915 shares in the company, valued at approximately $6,825,484.95. The disclosure for this sale can be found here. Insiders have sold a total of 35,987 shares of company stock worth $668,568 in the last three months. Corporate insiders own 16.10% of the company’s stock.

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.