Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Couchbase, Inc. (NASDAQ:BASE)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Couchbase, Inc. (NASDAQ:BASE) by 50.3% during the third quarter, Holdings Channel.com reports. The firm owned 41,367 shares of the company’s stock after selling 41,797 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Couchbase were worth $667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BASE. Vanguard Group Inc. increased its stake in shares of Couchbase by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after buying an additional 227,828 shares during the period. Comerica Bank purchased a new position in shares of Couchbase in the first quarter valued at about $2,077,000. Harbor Capital Advisors Inc. raised its stake in shares of Couchbase by 23.0% during the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Couchbase during the second quarter worth about $1,283,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Couchbase by 34.9% in the second quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock worth $2,997,000 after purchasing an additional 42,434 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Transactions at Couchbase

In other Couchbase news, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction on Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,448 shares of company stock worth $180,742 in the last ninety days. Insiders own 16.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. DA Davidson dropped their price objective on Couchbase from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Barclays raised their price target on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Oppenheimer reduced their price objective on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Finally, Piper Sandler Companies began coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $20.33 on Friday. Couchbase, Inc. has a 1 year low of $13.53 and a 1 year high of $32.00. The stock’s fifty day moving average price is $16.97 and its 200-day moving average price is $18.43. The company has a market cap of $1.04 billion, a P/E ratio of -12.79 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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) earnings per share. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts anticipate that Couchbase, Inc. will post -1.51 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.