75,909 Shares in Blend Labs, Inc. (NYSE:BLND) Purchased by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC acquired a new position in Blend Labs, Inc. (NYSE:BLND - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 75,909 shares of the company's stock, valued at approximately $320,000.

Several other institutional investors have also recently added to or reduced their stakes in BLND. Virtu Financial LLC acquired a new position in Blend Labs during the 3rd quarter valued at approximately $63,000. Summit Trail Advisors LLC lifted its position in Blend Labs by 38.1% in 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. RiverPark Advisors LLC acquired a new position in Blend Labs during the 3rd quarter valued at about $77,000. FMR LLC increased its stake in shares of Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after purchasing an additional 3,576 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Blend Labs during the fourth quarter valued at approximately $114,000. Institutional investors own 52.56% of the company's stock.

Insiders Place Their Bets

In other news, insider Oxana Tkach sold 18,324 shares of Blend Labs stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.18, for a total value of $94,918.32. Following the transaction, the insider now directly owns 88,677 shares of the company's stock, valued at $459,346.86. This trade represents a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the sale, the insider now owns 776,759 shares in the company, valued at $2,897,311.07. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,061 shares of company stock worth $1,291,173. 13.21% of the stock is owned by insiders.

Blend Labs Price Performance

Shares of BLND traded up $0.01 during mid-day trading on Wednesday, hitting $4.00. The company's stock had a trading volume of 2,237,077 shares, compared to its average volume of 2,792,999. The firm has a 50-day moving average price of $4.04 and a 200 day moving average price of $3.99. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -11.76 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citizens Jmp raised Blend Labs to a "strong-buy" rating in a research note on Wednesday, December 18th. UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. JMP Securities began 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 on the stock. The Goldman Sachs Group upped their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $5.11.

About Blend Labs

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.