SG Americas Securities LLC Purchases New Holdings in Blend Labs, Inc. (NYSE:BLND)

SG Americas Securities LLC acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 176,065 shares of the company’s stock, valued at approximately $660,000. SG Americas Securities LLC owned approximately 0.07% of Blend Labs as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in Blend Labs in the second quarter valued at about $809,000. ShawSpring Partners LLC grew its position in shares of Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after buying an additional 2,485,283 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Blend Labs in the first quarter valued at approximately $94,000. Acadian Asset Management LLC boosted its stake in Blend Labs by 2,656.9% in the first quarter. Acadian Asset Management LLC now owns 718,274 shares of the company’s stock valued at $2,332,000 after acquiring an additional 692,220 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Blend Labs by 253.8% during the 2nd quarter. Squarepoint Ops LLC now owns 523,094 shares of the company’s stock worth $1,235,000 after acquiring an additional 375,233 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Blend Labs Stock Up 3.4 %

Blend Labs stock opened at $3.64 on Monday. The company has a 50 day moving average of $3.62 and a 200-day moving average of $3.02. Blend Labs, Inc. has a twelve month low of $1.15 and a twelve month high of $4.25. The stock has a market capitalization of $925.43 million, a PE ratio of -7.43 and a beta of 1.15.

Blend Labs (NYSE:BLND) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million during the quarter, compared to analyst estimates of $39.50 million. Equities analysts anticipate that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLND has been the topic of several recent research reports. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. The Goldman Sachs Group increased their price target on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and upped their target price for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their price target on shares of Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.00 to $4.75 in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.93.

Insider Buying and Selling at Blend Labs

In other news, insider Winnie Ling sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total transaction of $68,600.00. Following the completion of the transaction, the insider now directly owns 259,169 shares of the company’s stock, valued at $888,949.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 54,303 shares of company stock worth $192,926. Corporate insiders own 13.21% of the company’s stock.

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.