GSA Capital Partners LLP Acquires New Position in Blend Labs, Inc. (NYSE:BLND)

GSA Capital Partners LLP acquired a new stake in Blend Labs, Inc. (NYSE:BLND) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,771 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Blend Labs in the third quarter worth approximately $660,000. Fullcircle Wealth LLC purchased a new position in Blend Labs in the third quarter worth approximately $508,000. Principal Financial Group Inc. purchased a new position in Blend Labs in the second quarter worth approximately $809,000. ShawSpring Partners LLC lifted its stake in Blend Labs by 58.7% in the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after acquiring an additional 2,485,283 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Blend Labs by 253.8% during the 2nd quarter. Squarepoint Ops LLC now owns 523,094 shares of the company’s stock worth $1,235,000 after buying an additional 375,233 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLND. UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on shares of Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.46.

Blend Labs Price Performance

NYSE:BLND opened at $5.20 on Friday. The business’s 50-day moving average is $3.93 and its two-hundred day moving average is $3.31. Blend Labs, Inc. has a 12 month low of $1.21 and a 12 month high of $5.29. The firm has a market capitalization of $1.33 billion, a PE ratio of -15.29 and a beta of 1.16.

Insider Transactions at Blend Labs

In other Blend Labs news, Director Timothy J. Mayopoulos sold 42,721 shares of Blend Labs stock in a transaction that occurred on Wednesday, November 20th. The stock was 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. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Winnie Ling sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $3.33, for a total value of $66,600.00. Following the transaction, the insider now owns 286,416 shares of the company’s stock, valued at approximately $953,765.28. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,024 shares of company stock valued at $406,531. 13.21% of the stock is currently owned by insiders.

Blend Labs 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.