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For me, it turned out the borehole was improperly drilled - crooked and not wide enough. The endpin assembly was not actually loose though, it was wedged in tightly enough that it was mostly and aesthetic and ergonomic issue. My luthier fixed it by plugging the existing hole and reaming out a new borehole.
If your borehole is too wide, any play back and forth could damage your bass. If it's tight in there but crooked, it's not as big of a deal. You can loosen your stings and see if it's loose, but you'd be at high risk for dropping your soundpost. I opted to have a professional look at it.
It's not something you should worry about, but it is something that should be repaired. Any DB luthier should be able to take care of it without too much fuss.
Also, I've relocated your post to Setup and Repair, where you will get better informed replies.
It's a little loose of a fit, that's why it's able to pull out slightly. Not an emergency / worst case scenario, but as Troy says, a luthier can do a better job of fitting it.
it doesn't seem like an emergency, but the downside of living with it is that the pin is sticking forward. If you extend the pin significantly then it means more of the bass's weight is against your body and playing comfort is compromised.