By otakuyassine3@gmail.com 
Kingsview Wealth Management LLC lowered its position in Blend Labs, Inc. (NYSE:BLND – Free Report) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,060 shares of the company’s stock after selling 21,785 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Blend Labs were worth $421,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in BLND. The Manufacturers Life Insurance Company purchased a new position in shares of Blend Labs in the second quarter valued at $211,000. Fullcircle Wealth LLC purchased a new position in shares of Blend Labs in the third quarter valued at $508,000. Principal Financial Group Inc. increased its position in shares of Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after buying an additional 2,390,337 shares in the last quarter. Cypress Point Wealth Management LLC increased its position in shares of Blend Labs by 15.2% in the third quarter. Cypress Point Wealth Management LLC now owns 226,447 shares of the company’s stock valued at $849,000 after buying an additional 29,848 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Blend Labs in the third quarter valued at $314,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on BLND. UBS Group lifted their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a research report on Friday, December 20th. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.
Read Our Latest Research Report on Blend Labs
Insider Buying and Selling at Blend Labs
In other news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of Blend Labs 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 transaction, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 331,782 shares of company stock worth $1,504,778 in the last 90 days. 13.21% of the stock is owned by company insiders.
Blend Labs Price Performance
BLND opened at $3.91 on Friday. The stock has a market capitalization of $999.41 million, a price-to-earnings ratio of -11.48 and a beta of 1.36. The business has a 50-day moving average of $4.13 and a two-hundred day moving average of $3.95. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53.
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.
Read More
Want to see what other hedge funds are holding BLND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blend Labs, Inc. (NYSE:BLND – Free Report).
Receive News & Ratings for Blend Labs Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Blend Labs and related companies with MarketBeat.com’s FREE daily email newsletter.