18,574 Shares in Blend Labs, Inc. (NYSE:BLND) Acquired by Caxton Associates LP

Caxton Associates LP bought a new stake in shares of Blend Labs, Inc. (NYSE:BLND) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,574 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrive Capital Management LLC bought a new position in shares of Blend Labs in the 3rd quarter worth approximately $46,000. Truist Financial Corp purchased a new position in shares of Blend Labs during the 4th quarter worth $255,000. Victory Capital Management Inc. grew its position in shares of Blend Labs by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after acquiring an additional 4,633 shares during the period. Jump Financial LLC purchased a new stake in shares of Blend Labs in the 4th quarter worth $132,000. Finally, AMG National Trust Bank bought a new position in Blend Labs in the 4th quarter worth $37,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Stock Down 6.2 %

NYSE:BLND traded down $0.18 on Tuesday, reaching $2.74. 889,910 shares of the company’s stock traded hands, compared to its average volume of 1,983,531. The firm has a market cap of $691.52 million, a PE ratio of -4.76 and a beta of 1.10. The stock has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $2.70. Blend Labs, Inc. has a 12 month low of $1.03 and a 12 month high of $3.40.

Blend Labs (NYSE:BLND) last issued its earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 90.62%. The company had revenue of $34.95 million for the quarter, compared to the consensus estimate of $33.94 million. On average, equities analysts anticipate that Blend Labs, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Blend Labs

In other Blend Labs 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 sale, the insider now directly owns 2,103,516 shares in the company, valued at approximately $6,163,301.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Blend Labs from $2.65 to $3.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 target price on shares of Blend Labs in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Blend Labs currently has an average rating of “Hold” and a consensus target price of $3.15.

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.