SG Americas Securities LLC trimmed its stake in shares of Blend Labs, Inc. (NYSE:BLND – Free Report) by 15.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 149,568 shares of the company’s stock after selling 26,497 shares during the period. SG Americas Securities LLC’s holdings in Blend Labs were worth $630,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Blend Labs by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after acquiring an additional 283,207 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Blend Labs in the third quarter valued at approximately $676,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Blend Labs during the 3rd quarter worth approximately $3,253,000. Fullcircle Wealth LLC acquired a new position in shares of Blend Labs during the 3rd quarter worth approximately $508,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Blend Labs by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock worth $6,161,000 after purchasing an additional 120,152 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.
Blend Labs Price Performance
BLND opened at $3.96 on Friday. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The business has a 50-day moving average of $4.38 and a two-hundred day moving average of $3.89. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -11.63 and a beta of 1.38.
Insider Buying and Selling
In other Blend Labs news, insider Oxana Tkach sold 18,324 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $459,346.86. The trade was a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the sale, the insider now directly owns 836,759 shares of the company’s stock, valued at $2,853,348.19. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 331,782 shares of company stock valued at $1,504,778. 13.21% of the stock is currently owned by company insiders.
Analyst Ratings Changes
BLND has been the topic of a number of analyst reports. The Goldman Sachs Group increased their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. JMP Securities started coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.11.
Read Our Latest Research Report on Blend Labs
Blend Labs Company 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.
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