UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Blend Labs, Inc. (NYSE:BLND)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Blend Labs, Inc. (NYSE:BLND) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 180,372 shares of the company’s stock, valued at approximately $676,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of Blend Labs as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BLND. Advantage Alpha Capital Partners LP purchased a new position in shares of Blend Labs in the 3rd quarter valued at $3,253,000. SG Americas Securities LLC bought a new stake in Blend Labs during the third quarter valued at about $660,000. Fullcircle Wealth LLC purchased a new position in Blend Labs in the third quarter valued at about $508,000. Charles Schwab Investment Management Inc. raised its holdings in Blend Labs by 7.9% in the third 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 in the last quarter. Finally, ShawSpring Partners LLC lifted its position in shares of Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after buying an additional 2,485,283 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLND. JMP Securities began coverage on shares of Blend Labs in a research report on Wednesday. They issued an “outperform” rating and a $7.00 price objective on the stock. UBS Group lifted 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. Canaccord Genuity Group increased their price objective on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Finally, Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Blend Labs Price Performance

NYSE BLND opened at $4.43 on Friday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -13.03 and a beta of 1.33. The stock’s fifty day moving average price is $4.43 and its 200 day moving average price is $3.60. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total transaction of $68,600.00. Following the completion of the sale, the insider now directly owns 259,169 shares in the company, valued at approximately $888,949.67. The trade was a 7.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total transaction of $213,605.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,838 shares of company stock worth $1,050,644. 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.