Caxton Associates LP bought a new position in Blend Labs, Inc. (NYSE:BLND – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,574 shares of the company’s stock, valued at approximately $60,000.
A number of other large investors have also bought and sold shares of the business. EP Wealth Advisors LLC boosted its stake in Blend Labs by 8.1% in the first quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock worth $639,000 after purchasing an additional 14,754 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Blend Labs during the 1st quarter worth about $190,000. Lake Street Advisors Group LLC bought a new stake in Blend Labs during the 1st quarter worth about $1,538,000. Acadian Asset Management LLC increased its position in Blend Labs by 2,656.9% in the 1st quarter. Acadian Asset Management LLC now owns 718,274 shares of the company’s stock valued at $2,332,000 after acquiring an additional 692,220 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Blend Labs by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after acquiring an additional 46,526 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.
Blend Labs Trading Down 6.2 %
Shares of BLND traded down $0.18 on Tuesday, reaching $2.74. 889,910 shares of the company’s stock were exchanged, compared to its average volume of 1,983,531. The business has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $2.70. Blend Labs, Inc. has a 12 month low of $1.03 and a 12 month high of $3.40. The stock has a market capitalization of $691.52 million, a P/E ratio of -4.76 and a beta of 1.10.
Insider Activity at Blend Labs
In other Blend Labs news, insider Nima Ghamsari sold 281,763 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $2.77, for a total value of $780,483.51. Following the transaction, the insider now directly owns 427,237 shares in the company, valued at $1,183,446.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.83% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on BLND shares. Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $2.65 to $3.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 target price on shares of Blend Labs in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.15.
View Our Latest Report on BLND
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.
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