Baader Bank Aktiengesellschaft Takes Position in Blend Labs, Inc. (NYSE:BLND)

Baader Bank Aktiengesellschaft purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,000 shares of the company’s stock, valued at approximately $114,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Blend Labs by 6.3% during the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after purchasing an additional 283,207 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Blend Labs in the 3rd quarter worth approximately $676,000. Advantage Alpha Capital Partners LP bought a new position in Blend Labs in the 3rd quarter worth approximately $3,253,000. SG Americas Securities LLC acquired a new position in Blend Labs during the 3rd quarter worth $660,000. Finally, Fullcircle Wealth LLC bought a new position in Blend Labs in the 3rd quarter valued at $508,000. Institutional investors own 52.56% of the company’s stock.

Insider Transactions at Blend Labs

In related news, Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the sale, the director now directly owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. The trade was a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now owns 776,759 shares of the company’s stock, valued at approximately $2,897,311.07. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 331,782 shares of company stock valued at $1,504,778 over the last 90 days. 13.21% of the stock is owned by company insiders.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $3.84 on Friday. The company has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $3.90. The company has a market capitalization of $981.49 million, a PE ratio of -11.28 and a beta of 1.38. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $45.18 million for the quarter, compared to analyst estimates of $41.30 million. During the same period in the prior year, the company posted ($0.13) EPS. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. JMP Securities initiated coverage on Blend Labs in a report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a research note on Friday, December 20th. 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. According to data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and an average target price of $5.11.

About Blend Labs

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.