88,317 Shares in Blend Labs, Inc. (NYSE:BLND) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in Blend Labs, Inc. (NYSE:BLND - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 88,317 shares of the company's stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after acquiring an additional 3,576 shares in the last quarter. PFG Advisors increased its holdings in shares of Blend Labs by 6.3% in the 4th quarter. PFG Advisors now owns 67,762 shares of the company's stock worth $285,000 after purchasing an additional 3,986 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of Blend Labs by 38.1% in the fourth quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company's stock worth $76,000 after purchasing an additional 4,953 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Blend Labs by 31.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 28,586 shares of the company's stock valued at $120,000 after purchasing an additional 6,763 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Blend Labs during the fourth quarter valued at $42,000. Institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

BLND has been the subject of several research analyst reports. Citizens Jmp upgraded Blend Labs to a "strong-buy" rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price target on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Canaccord Genuity Group lowered their price objective on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a research report on Friday, February 28th. UBS Group dropped their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, February 28th. Finally, JMP Securities started coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an "outperform" rating and a $7.00 target price for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $4.91.

Blend Labs Trading Up 0.5 %

NYSE BLND traded up $0.02 during trading hours on Tuesday, hitting $3.16. 656,808 shares of the company's stock traded hands, compared to its average volume of 2,903,574. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The firm has a market capitalization of $819.23 million, a P/E ratio of -9.28 and a beta of 1.29. The business's fifty day moving average price is $3.50 and its two-hundred day moving average price is $3.93.

Insider Transactions at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.59, for a total value of $107,700.00. Following the completion of the sale, the insider now owns 806,759 shares in the company, valued at $2,896,264.81. This represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.21% of the company's stock.

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.