Driehaus Capital Management LLC Has $8.09 Million Position in Couchbase, Inc. (NASDAQ:BASE)

Driehaus Capital Management LLC cut its stake in Couchbase, Inc. (NASDAQ:BASE) by 48.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,159 shares of the company’s stock after selling 409,556 shares during the period. Driehaus Capital Management LLC owned approximately 0.88% of Couchbase worth $8,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BASE. Charles Schwab Investment Management Inc. increased its stake in shares of Couchbase by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock valued at $5,641,000 after purchasing an additional 19,256 shares during the last quarter. Circumference Group LLC bought a new stake in Couchbase during the 4th quarter worth $4,504,000. CenterBook Partners LP bought a new stake in Couchbase during the 4th quarter worth $869,000. StepStone Group LP bought a new stake in Couchbase during the 4th quarter worth $133,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in Couchbase during the 4th quarter worth $635,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BASE. DA Davidson reduced their price objective on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Robert W. Baird reduced their price target on Couchbase from $32.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Piper Sandler reduced their price target on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Stifel Nicolaus dropped their price objective on Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Couchbase has a consensus rating of “Moderate Buy” and an average target price of $22.93.

Insider Buying and Selling

In related news, Director Edward T. Anderson acquired 21,080 shares of the stock in a transaction dated Thursday, September 19th. The stock was purchased 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 in the company, valued at approximately $1,216,372.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Edward T. Anderson acquired 21,080 shares of the stock in a transaction dated Thursday, September 19th. The stock was purchased 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 in the company, valued at approximately $1,216,372.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Margaret Chow sold 2,290 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the completion of the sale, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at $3,849,160. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,220 shares of company stock valued at $422,094. 16.10% of the stock is owned by company insiders.

Couchbase Stock Performance

BASE stock opened at $15.28 on Monday. The stock’s 50 day simple moving average is $17.20 and its 200 day simple moving average is $20.85. Couchbase, Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The company has a market cap of $768.74 million, a P/E ratio of -9.32 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $51.11 million. During the same period in the prior year, the business earned ($0.44) EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts predict that Couchbase, Inc. will post -1.5 earnings per share for the current year.

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.