Mirabella Financial Services LLP Makes New Investment in Blend Labs, Inc. (NYSE:BLND)

Mirabella Financial Services LLP bought a new position in Blend Labs, Inc. (NYSE:BLND - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,607,000 shares of the company's stock, valued at approximately $6,765,000. Mirabella Financial Services LLP owned about 0.63% of Blend Labs at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Blend Labs by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock worth $70,776,000 after acquiring an additional 388,583 shares during the last quarter. ShawSpring Partners LLC boosted its holdings in shares of Blend Labs by 6.8% in the 4th quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company's stock valued at $29,803,000 after buying an additional 449,175 shares in the last quarter. State Street Corp grew its holdings in Blend Labs by 57.6% in the third quarter. State Street Corp now owns 5,461,973 shares of the company's stock worth $20,482,000 after purchasing an additional 1,995,362 shares during the last quarter. Geode Capital Management LLC raised its stake in Blend Labs by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company's stock valued at $20,391,000 after buying an additional 75,379 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Blend Labs by 697.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after purchasing an additional 2,390,337 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Trading Up 2.8 %

Shares of Blend Labs stock traded up $0.09 on Thursday, reaching $3.28. 2,647,413 shares of the company were exchanged, compared to its average volume of 2,938,506. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The firm has a market capitalization of $851.69 million, a price-to-earnings ratio of -9.65 and a beta of 1.29. The stock has a fifty day moving average price of $3.39 and a 200-day moving average price of $3.90.

Insider Transactions at Blend Labs

In related news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the sale, the insider now owns 776,759 shares in the company, valued at approximately $2,897,311.07. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. 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 report on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Tuesday. UBS Group reduced their price target on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods lowered their target price 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. Two equities research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.70.

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.