Janus Henderson Group PLC Makes New Investment in Blend Labs, Inc. (NYSE:BLND)

Janus Henderson Group PLC acquired a new stake in Blend Labs, Inc. (NYSE:BLND) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 85,100 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC grew its position in shares of 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 acquiring an additional 3,576 shares during the period. ClariVest Asset Management LLC grew its holdings in Blend Labs by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after purchasing an additional 6,988 shares during the period. Dark Forest Capital Management LP bought a new position in Blend Labs during the second quarter worth about $31,000. Xponance Inc. acquired a new position in Blend Labs during the second quarter worth approximately $35,000. Finally, EP Wealth Advisors LLC raised its stake in Blend Labs by 8.2% in the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after buying an additional 16,084 shares during the period. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

BLND has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped 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. Finally, UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Blend Labs presently has a consensus rating of “Moderate Buy” and an average target price of $4.79.

Blend Labs Stock Down 3.1 %

Shares of BLND opened at $4.92 on Monday. The business has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $3.55. Blend Labs, Inc. has a 12-month low of $1.99 and a 12-month high of $5.53. The stock has a market cap of $1.26 billion, a PE ratio of -14.47 and a beta of 1.33.

Insider Buying and Selling

In related news, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $5.12, for a total transaction of $153,600.00. Following the transaction, the insider now owns 937,439 shares in the company, valued at $4,799,687.68. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Winnie Ling sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was 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 owns 259,169 shares of the company’s stock, valued at $888,949.67. The trade was a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 181,838 shares of company stock valued at $899,144 over the last ninety days. 13.21% of the stock is owned by company 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.