672,558 Shares in Blend Labs, Inc. (NYSE:BLND) Bought by EAM Investors LLC

EAM Investors LLC purchased a new stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 672,558 shares of the company's stock, valued at approximately $2,831,000. EAM Investors LLC owned 0.26% of Blend Labs at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLND. FMR LLC grew its holdings in Blend Labs by 15.8% in the 3rd 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. PFG Advisors increased its position in Blend Labs by 6.3% during the fourth quarter. PFG Advisors now owns 67,762 shares of the company's stock worth $285,000 after acquiring an additional 3,986 shares during the period. Summit Trail Advisors LLC raised its stake in Blend Labs by 38.1% during the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company's stock valued at $76,000 after purchasing an additional 4,953 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Blend Labs by 31.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 28,586 shares of the company's stock worth $120,000 after purchasing an additional 6,763 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its holdings in shares of Blend Labs by 0.5% during the 4th quarter. Next Century Growth Investors LLC now owns 1,497,871 shares of the company's stock worth $6,306,000 after purchasing an additional 7,068 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a report on Monday, March 3rd. Canaccord Genuity Group reduced their price objective on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, UBS Group dropped their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $4.70.

Blend Labs Trading Up 1.8 %

NYSE BLND traded up $0.06 during trading hours on Tuesday, reaching $3.10. 247,650 shares of the company's stock were exchanged, compared to its average volume of 3,437,416. The firm has a fifty day moving average of $3.42 and a 200-day moving average of $3.91. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53. The stock has a market cap of $803.65 million, a PE ratio of -9.10 and a beta of 1.29.

Insider Transactions at Blend Labs

In related news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now directly owns 776,759 shares in the company, valued at $2,897,311.07. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.21% of the stock is owned by company insiders.

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.