Portolan Capital Management LLC Purchases 382,851 Shares of Couchbase, Inc. (NASDAQ:BASE)

Portolan Capital Management LLC increased its stake in Couchbase, Inc. (NASDAQ:BASE) by 77.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,795 shares of the company’s stock after buying an additional 382,851 shares during the period. Couchbase accounts for 1.0% of Portolan Capital Management LLC’s portfolio, making the stock its 28th largest position. Portolan Capital Management LLC owned approximately 1.70% of Couchbase worth $14,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BASE. Ashton Thomas Private Wealth LLC bought a new position in Couchbase in the second quarter worth about $47,000. Point72 Hong Kong Ltd bought a new position in Couchbase in the second quarter worth about $67,000. Harbor Capital Advisors Inc. raised its stake in 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 buying an additional 1,125 shares in the last quarter. Arizona State Retirement System raised its stake in 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 buying an additional 2,445 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after buying an additional 700 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Insider Activity at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average price of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 10,548 shares of company stock worth $163,390 in the last 90 days. 16.10% of the stock is owned by corporate insiders.

Couchbase Trading Up 2.9 %

BASE stock opened at $21.12 on Wednesday. Couchbase, Inc. has a 12 month low of $13.53 and a 12 month high of $32.00. The company has a 50-day moving average price of $17.37 and a 200 day moving average price of $18.25. The stock has a market cap of $1.08 billion, a PE ratio of -13.28 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that Couchbase, Inc. will post -1.51 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on BASE. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research note on Thursday, September 5th. Morgan Stanley cut their price objective on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. UBS Group cut their price objective on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. Finally, Piper Sandler cut their price objective on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.40.

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.