Pictet Asset Management Holding SA Buys 6,763 Shares of Blend Labs, Inc. (NYSE:BLND)

Pictet Asset Management Holding SA boosted its position in Blend Labs, Inc. (NYSE:BLND) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,586 shares of the company’s stock after acquiring an additional 6,763 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Blend Labs were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BLND. FMR LLC increased its position in shares of Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares during the last quarter. PFG Advisors raised its stake in shares of Blend Labs by 6.3% during the fourth quarter. PFG Advisors now owns 67,762 shares of the company’s stock worth $285,000 after acquiring an additional 3,986 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Blend Labs by 38.1% in the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock worth $76,000 after acquiring an additional 4,953 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Blend Labs in the 4th quarter valued at $42,000. Finally, Calamos Advisors LLC raised its position in Blend Labs by 3.6% in the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,366 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Trading Down 1.5 %

NYSE:BLND opened at $3.06 on Friday. The company has a 50-day moving average price of $3.52 and a 200-day moving average price of $3.93. The stock has a market cap of $793.27 million, a price-to-earnings ratio of -8.99 and a beta of 1.29. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53.

Wall Street Analysts Forecast Growth

BLND has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research note on Friday, February 28th. UBS Group decreased their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. JMP Securities initiated coverage on Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. Finally, Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blend Labs currently has a consensus rating of “Moderate Buy” and an average target price of $4.91.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.59, for a total value of $107,700.00. Following the completion of the transaction, the insider now owns 806,759 shares of the company’s stock, valued at approximately $2,896,264.81. This represents a 3.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 90,000 shares of company stock worth $321,900 over the last three months. Company insiders own 13.21% of the company’s stock.

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.