State Street Corp Has $20.48 Million Stock Holdings in Blend Labs, Inc. (NYSE:BLND)

State Street Corp lifted its position in shares of Blend Labs, Inc. (NYSE:BLND) by 57.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,461,973 shares of the company’s stock after purchasing an additional 1,995,362 shares during the quarter. State Street Corp owned 2.15% of Blend Labs worth $20,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new stake in shares of Blend Labs in the 2nd quarter worth $31,000. Xponance Inc. bought a new stake in Blend Labs during the second quarter worth $35,000. RiverPark Advisors LLC purchased a new position in Blend Labs in the third quarter worth $77,000. FMR LLC grew its stake in Blend Labs by 15.8% in 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 period. Finally, Caxton Associates LP increased its position in shares of Blend Labs by 176.0% during the 2nd quarter. Caxton Associates LP now owns 51,260 shares of the company’s stock valued at $121,000 after purchasing an additional 32,686 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLND has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JMP Securities started coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities 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 stock. According to MarketBeat, Blend Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Blend Labs Trading Up 0.2 %

BLND opened at $4.41 on Tuesday. The company has a 50 day moving average of $4.44 and a 200 day moving average of $3.62. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The company has a market cap of $1.13 billion, a PE ratio of -12.97 and a beta of 1.33.

Insider Transactions at Blend Labs

In related news, Director Timothy J. Mayopoulos sold 56,490 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the sale, the director now owns 331,130 shares in the company, valued at approximately $1,821,215. This trade represents a 14.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the transaction, the insider now owns 907,439 shares of the company’s stock, valued at approximately $4,582,566.95. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,782 shares of company stock valued at $1,052,078 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.