Blend Labs, Inc. (NYSE:BLND) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC raised its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,003 shares of the company’s stock after acquiring an additional 11,448 shares during the period. EP Wealth Advisors LLC owned approximately 0.07% of Blend Labs worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BLND. JPL Wealth Management LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $26,000. AMG National Trust Bank acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $37,000. Berylson Capital Partners LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $52,000. Victory Capital Management Inc. grew its holdings in shares of Blend Labs by 24.2% in the fourth quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after purchasing an additional 4,633 shares in the last quarter. Finally, Thrive Capital Management LLC acquired a new position in shares of Blend Labs in the third quarter valued at approximately $46,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $3.00 price objective on shares of Blend Labs in a report on Wednesday, May 8th. Keefe, Bruyette & Woods lifted their price target on shares of Blend Labs from $2.65 to $3.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.15.

Insider Transactions at Blend Labs

In other news, insider Nima Ghamsari sold 81,434 shares of Blend Labs stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $2.93, for a total value of $238,601.62. Following the transaction, the insider now directly owns 2,103,516 shares of the company’s stock, valued at approximately $6,163,301.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 545,704 shares of company stock worth $1,510,345. 11.83% of the stock is currently owned by insiders.

Blend Labs Stock Down 1.5 %

Shares of Blend Labs stock opened at $2.34 on Wednesday. The company has a market capitalization of $589.31 million, a P/E ratio of -4.03 and a beta of 1.14. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 34.81. Blend Labs, Inc. has a 52-week low of $0.85 and a 52-week high of $3.40. The company has a 50 day moving average of $2.67 and a 200 day moving average of $2.61.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $34.95 million during the quarter, compared to the consensus estimate of $33.94 million. Blend Labs had a negative net margin of 90.62% and a negative return on equity of 595.99%. As a group, research analysts forecast that Blend Labs, Inc. will post -0.38 EPS for the current fiscal year.

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.