Sei Investments Co. grew its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 1,174.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,405 shares of the company's stock after buying an additional 138,603 shares during the quarter. Sei Investments Co. owned 0.06% of Blend Labs worth $633,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at approximately $42,000. Olympiad Research LP bought a new stake in Blend Labs in the fourth quarter worth $47,000. Trellis Wealth Advisors LLC bought a new stake in Blend Labs in the fourth quarter worth $57,000. BBR Partners LLC purchased a new position in shares of Blend Labs during the 4th quarter worth about $60,000. Finally, Virtu Financial LLC purchased a new position in shares of Blend Labs during the third quarter valued at approximately $63,000. Institutional investors own 52.56% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on BLND. 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. Canaccord Genuity Group cut their price objective on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a report on Friday, February 28th. Citizens Jmp upgraded Blend Labs to a "strong-buy" rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a report on Monday, March 3rd. Finally, JMP Securities assumed coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 price target for the company. Two equities research 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.91.
Check Out Our Latest Analysis on BLND
Blend Labs Trading Down 1.5 %
Shares of BLND stock traded down $0.05 during trading hours on Friday, reaching $3.06. 4,002,312 shares of the company's stock were exchanged, compared to its average volume of 2,912,328. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The stock's 50 day moving average is $3.52 and its 200-day moving average is $3.93. The company has a market cap of $793.27 million, a price-to-earnings ratio of -8.99 and a beta of 1.29.
Insider Buying and Selling
In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the completion of the sale, the insider now owns 836,759 shares of the company's stock, valued at approximately $2,853,348.19. This trade represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 90,000 shares of company stock worth $321,900 in the last ninety days. 13.21% of the stock is owned by insiders.
Blend Labs Profile
(
Free Report)
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.
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