Fullcircle Wealth LLC Buys New Stake in Blend Labs, Inc. (NYSE:BLND)

Fullcircle Wealth LLC acquired a new position in Blend Labs, Inc. (NYSE:BLND - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 147,684 shares of the company's stock, valued at approximately $508,000. Fullcircle Wealth LLC owned approximately 0.06% of Blend Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of BLND. Vanguard Group Inc. boosted its stake in shares of Blend Labs by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company's stock worth $30,060,000 after acquiring an additional 46,526 shares in the last quarter. ShawSpring Partners LLC boosted its position in Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company's stock worth $15,850,000 after purchasing an additional 2,485,283 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Blend Labs by 8.6% in the second quarter. Acadian Asset Management LLC now owns 780,274 shares of the company's stock valued at $1,840,000 after purchasing an additional 62,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Blend Labs by 3,799.4% in the second quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company's stock valued at $1,546,000 after purchasing an additional 638,102 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Blend Labs by 253.8% in the second quarter. Squarepoint Ops LLC now owns 523,094 shares of the company's stock valued at $1,235,000 after buying an additional 375,233 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Insiders Place Their Bets

In related news, insider Winnie Ling sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the sale, the insider now directly owns 279,169 shares in the company, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 54,303 shares of company stock valued at $192,926. Insiders own 13.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BLND shares. Keefe, Bruyette & Woods increased their price objective on shares of Blend Labs from $3.00 to $3.25 and gave the company a "market perform" rating in a research note on Monday, August 12th. William Blair upgraded shares of Blend Labs from a "market perform" rating to an "outperform" rating in a research report on Friday, August 9th. Canaccord Genuity Group upgraded Blend Labs from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. The Goldman Sachs Group increased their target price on Blend Labs from $3.00 to $3.40 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.94.

Blend Labs Price Performance

NYSE BLND remained flat at $3.63 during mid-day trading on Friday. 1,197,531 shares of the company were exchanged, compared to its average volume of 2,258,008. The firm has a market capitalization of $922.89 million, a PE ratio of -7.41 and a beta of 1.15. Blend Labs, Inc. has a 1 year low of $1.16 and a 1 year high of $4.25. The firm's fifty day simple moving average is $3.64 and its two-hundred day simple moving average is $3.09.

Blend Labs (NYSE:BLND - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Blend Labs 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.