Blend Labs, Inc. (NYSE:BLND) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Blend Labs, Inc. (NYSE:BLND) by 71.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,016 shares of the company’s stock after buying an additional 38,777 shares during the period. Ieq Capital LLC’s holdings in Blend Labs were worth $392,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Blend Labs by 6.3% in the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after acquiring an additional 283,207 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Blend Labs in the 3rd quarter valued at about $676,000. Advantage Alpha Capital Partners LP purchased a new position in Blend Labs in the 3rd quarter valued at about $3,253,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blend Labs by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock worth $6,161,000 after purchasing an additional 120,152 shares during the last quarter. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Blend Labs during the third quarter worth about $508,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on BLND shares. Canaccord Genuity Group restated a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research report on Friday, December 20th. Wells Fargo & Company raised their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Blend Labs in a report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.11.

Insider Buying and Selling

In related news, Director Timothy J. Mayopoulos sold 56,490 shares of Blend Labs stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.50, for a total transaction of $310,695.00. Following the transaction, the director now owns 331,130 shares in the company, valued at approximately $1,821,215. The trade was a 14.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the sale, the insider now owns 776,759 shares of the company’s stock, valued at approximately $2,897,311.07. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,737 shares of company stock valued at $1,196,254. 13.21% of the stock is currently owned by corporate insiders.

Blend Labs Price Performance

Blend Labs stock opened at $3.52 on Friday. The company has a market cap of $901.90 million, a price-to-earnings ratio of -10.36 and a beta of 1.36. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The stock’s 50-day moving average is $3.87 and its 200-day moving average is $4.02.

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.