UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 180,372 shares of the company's stock, valued at approximately $676,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of Blend Labs at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. FMR LLC increased its position in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company's stock worth $98,000 after purchasing an additional 3,576 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Blend Labs by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company's stock valued at $595,000 after buying an additional 6,988 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the 2nd quarter valued at approximately $31,000. Xponance Inc. acquired a new stake in shares of Blend Labs during the 2nd quarter worth approximately $35,000. Finally, EP Wealth Advisors LLC raised its position in shares of Blend Labs by 8.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company's stock valued at $502,000 after buying an additional 16,084 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.
Insider Activity
In other news, insider Winnie Ling sold 20,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the sale, the insider now directly owns 259,169 shares in the company, valued at approximately $888,949.67. This trade represents a 7.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the sale, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,838 shares of company stock valued at $1,050,644. 13.21% of the stock is currently owned by company insiders.
Blend Labs Stock Down 0.7 %
NYSE BLND traded down $0.03 during trading on Friday, hitting $4.40. The stock had a trading volume of 5,655,290 shares, compared to its average volume of 2,392,760. The company has a market capitalization of $1.13 billion, a PE ratio of -12.94 and a beta of 1.33. The firm has a 50 day moving average price of $4.43 and a 200 day moving average price of $3.60. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on BLND. The Goldman Sachs Group increased their price objective on Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Canaccord Genuity Group reiterated a "buy" rating and set a $5.75 price target on shares of Blend Labs in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, UBS Group lifted their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.11.
Check Out Our Latest Stock Report on Blend Labs
Blend Labs Company Profile
(
Free Report)
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.
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