Barclays PLC Purchases 295,460 Shares of Blend Labs, Inc. (NYSE:BLND)

Barclays PLC grew its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 263.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,774 shares of the company's stock after buying an additional 295,460 shares during the quarter. Barclays PLC owned approximately 0.16% of Blend Labs worth $1,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. FMR LLC increased its holdings in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company's stock worth $98,000 after buying an additional 3,576 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Blend Labs during the second quarter worth $31,000. Xponance Inc. acquired a new position in Blend Labs in the 2nd quarter valued at about $35,000. EP Wealth Advisors LLC increased its stake in shares of Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company's stock worth $502,000 after purchasing an additional 16,084 shares during the period. Finally, Algert Global LLC increased its position in Blend Labs by 27.6% during the 2nd quarter. Algert Global LLC now owns 86,156 shares of the company's stock worth $203,000 after buying an additional 18,656 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blend Labs

In related news, Director Timothy J. Mayopoulos sold 42,721 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Oxana Tkach sold 18,324 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.18, for a total transaction of $94,918.32. Following the sale, the insider now owns 88,677 shares of the company's stock, valued at $459,346.86. This trade represents a 17.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,782 shares of company stock worth $1,182,878. Company insiders own 13.21% of the company's stock.

Blend Labs Price Performance

Blend Labs stock opened at $3.25 on Monday. The firm has a market cap of $831.77 million, a P/E ratio of -9.56 and a beta of 1.38. The stock's 50 day moving average is $4.59 and its 200 day moving average is $3.79. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citizens Jmp upgraded Blend Labs to a "strong-buy" rating in a research note on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.75 price objective on shares of Blend Labs in a research report on Friday, December 20th. The Goldman Sachs Group upped their target price on Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, JMP Securities initiated coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $5.11.

Blend Labs Company Profile

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.