Caprock Group LLC Boosts Holdings in Blend Labs, Inc. (NYSE:BLND)

Caprock Group LLC boosted its stake in Blend Labs, Inc. (NYSE:BLND) by 142.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,032 shares of the company’s stock after acquiring an additional 44,096 shares during the period. Caprock Group LLC’s holdings in Blend Labs were worth $316,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings 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 purchased a new stake in Blend Labs in the 3rd quarter valued at approximately $676,000. Advantage Alpha Capital Partners LP acquired a new position in Blend Labs during the 3rd quarter worth approximately $3,253,000. SG Americas Securities LLC purchased a new position in shares of Blend Labs during the 3rd quarter worth approximately $660,000. Finally, Fullcircle Wealth LLC purchased a new position in shares of Blend Labs during the 3rd quarter worth approximately $508,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BLND. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. JMP Securities started coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. The Goldman Sachs Group lifted 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, UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.11.

Insider Buying and Selling at Blend Labs

In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the sale, the insider now owns 836,759 shares of the company’s stock, valued at $2,853,348.19. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 331,782 shares of company stock worth $1,504,778 in the last 90 days. 13.21% of the stock is owned by company insiders.

Blend Labs Trading Down 2.6 %

NYSE:BLND opened at $3.95 on Friday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -11.60 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 company’s 50-day moving average is $4.25 and its two-hundred day moving average is $3.92.

Blend Labs (NYSE:BLND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $45.18 million during the quarter, compared to the consensus estimate of $41.30 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, equities research analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

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.