Blend Labs, Inc. (NYSE:BLND) Holdings Boosted by Caprock Group LLC

Caprock Group LLC raised 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 & Exchange Commission. The firm 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 institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Blend Labs during the third quarter valued at about $63,000. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth approximately $77,000. FMR LLC boosted its holdings 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 in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in Blend Labs during the fourth quarter worth approximately $114,000. Finally, Revolve Wealth Partners LLC acquired a new stake in Blend Labs in the fourth quarter worth approximately $132,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Trading Down 2.6 %

Shares of NYSE:BLND opened at $3.95 on Friday. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The firm has a fifty day moving average price of $4.25 and a 200 day moving average price of $3.92. The stock has a market capitalization of $1.01 billion, a PE ratio of -11.60 and a beta of 1.36.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data 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 company had revenue of $45.18 million during the quarter, compared to analyst estimates of $41.30 million. During the same quarter last year, the firm earned ($0.13) earnings per share. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLND shares. Wells Fargo & Company upped their price objective on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, December 5th. Canaccord Genuity Group restated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a research report on Friday, December 20th. JMP Securities began coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Insider Transactions at Blend Labs

In other Blend Labs news, insider Oxana Tkach sold 18,324 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.18, for a total value of $94,918.32. Following the completion of the sale, the insider now owns 88,677 shares in the company, valued at approximately $459,346.86. This trade represents a 17.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the sale, the insider now owns 776,759 shares in the company, valued at approximately $2,897,311.07. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 331,782 shares of company stock worth $1,504,778. Company insiders own 13.21% of the company’s stock.

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.