Blend Labs, Inc. (NYSE:BLND) Shares Purchased by Barclays PLC

Barclays PLC lifted its stake in Blend Labs, Inc. (NYSE:BLND) by 263.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 407,774 shares of the company’s stock after acquiring an additional 295,460 shares during the period. Barclays PLC’s holdings in Blend Labs were worth $1,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BLND. Dark Forest Capital Management LP purchased a new stake in Blend Labs during the 2nd quarter valued at about $31,000. Xponance Inc. purchased a new position in shares of Blend Labs in the second quarter worth about $35,000. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs during the third quarter worth about $77,000. FMR LLC boosted its position in 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 buying an additional 3,576 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in Blend Labs by 176.0% in the 2nd quarter. Caxton Associates LP now owns 51,260 shares of the company’s stock worth $121,000 after buying an additional 32,686 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLND has been the subject of several research reports. 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 price objective for the company. Wells Fargo & Company boosted 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. Keefe, Bruyette & Woods upped their price target 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. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a research note on Friday, December 20th. Finally, UBS Group upped their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.11.

Insider Activity at Blend Labs

In other news, insider Winnie Ling sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total transaction of $68,600.00. Following the transaction, the insider now owns 259,169 shares in the company, valued at $888,949.67. This trade represents a 7.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Oxana Tkach sold 18,324 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.18, for a total transaction of $94,918.32. Following the completion of the sale, the insider now directly owns 88,677 shares of the company’s stock, valued at approximately $459,346.86. The trade was a 17.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,782 shares of company stock worth $1,011,478 in the last 90 days. Corporate insiders own 13.21% of the company’s stock.

Blend Labs Stock Performance

BLND opened at $4.29 on Friday. The company has a fifty day moving average of $4.51 and a two-hundred day moving average of $3.67. 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 $1.10 billion, a price-to-earnings ratio of -12.62 and a beta of 1.33.

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.