Barclays PLC Acquires 295,460 Shares of Blend Labs, Inc. (NYSE:BLND)

Barclays PLC boosted its holdings in shares of Blend Labs, Inc. (NYSE:BLND) by 263.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,774 shares of the company’s stock after purchasing an additional 295,460 shares during the period. Barclays PLC owned about 0.16% of Blend Labs worth $1,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLND. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the second quarter valued at approximately $31,000. Xponance Inc. bought a new position in shares of Blend Labs in the second quarter valued at approximately $35,000. RiverPark Advisors LLC bought a new position in shares of Blend Labs in the third quarter valued at approximately $77,000. FMR LLC raised its stake in shares of Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after acquiring an additional 3,576 shares during the last quarter. Finally, Caxton Associates LP raised its stake in shares of Blend Labs by 176.0% in the second quarter. Caxton Associates LP now owns 51,260 shares of the company’s stock valued at $121,000 after acquiring an additional 32,686 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. UBS Group lifted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a research report on Friday, December 20th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the transaction, the insider now owns 866,759 shares of the company’s stock, valued at $3,233,011.07. The trade was a 3.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the business’s 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 completion of the transaction, the director now directly owns 331,130 shares of the company’s stock, valued at $1,821,215. This trade represents a 14.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,782 shares of company stock valued at $1,182,878. Company insiders own 13.21% of the company’s stock.

Blend Labs Stock Performance

BLND opened at $3.36 on Monday. The company has a fifty day moving average price of $4.59 and a two-hundred day moving average price of $3.79. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The firm has a market capitalization of $859.92 million, a PE ratio of -9.88 and a beta of 1.38.

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.