Blend Labs, Inc. (NYSE:BLND) Stake Lessened by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lessened its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 563,716 shares of the company's stock after selling 303,782 shares during the period. Advantage Alpha Capital Partners LP owned 0.22% of Blend Labs worth $2,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Blend Labs during the third quarter valued at approximately $194,000. Charles Schwab Investment Management Inc. increased its position in Blend Labs by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company's stock worth $6,161,000 after buying an additional 120,152 shares during the period. FMR LLC lifted its stake in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after buying an additional 3,576 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Blend Labs by 110.9% during the third quarter. MetLife Investment Management LLC now owns 125,560 shares of the company's stock valued at $471,000 after acquiring an additional 66,015 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Blend Labs in the 3rd quarter worth about $231,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Insider Buying and Selling

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the sale, the insider now directly owns 836,759 shares of the company's stock, valued at approximately $2,853,348.19. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 150,000 shares of company stock worth $561,900 in the last three months. 13.21% of the stock is currently owned by insiders.

Remove Ads

Blend Labs Stock Performance

Shares of NYSE BLND traded up $0.13 during trading on Friday, hitting $3.57. The company had a trading volume of 2,981,533 shares, compared to its average volume of 2,774,988. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The business's 50-day moving average is $3.65 and its 200 day moving average is $3.97. The company has a market cap of $925.70 million, a P/E ratio of -10.48 and a beta of 1.40.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research report on Monday, March 3rd. Citizens Jmp upgraded shares of Blend Labs to a "strong-buy" rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Blend Labs from $4.50 to $6.50 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Canaccord Genuity Group decreased their price target on Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, UBS Group dropped their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $4.91.

About Blend Labs

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.