Bayesian Capital Management LP purchased a new stake in Blend Labs, Inc. (NYSE:BLND – Free Report) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 31,424 shares of the company’s stock, valued at approximately $102,000.
Other hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in Blend Labs during the 4th quarter worth about $26,000. AMG National Trust Bank acquired a new stake in Blend Labs in the 4th quarter valued at about $37,000. Thrive Capital Management LLC acquired a new stake in Blend Labs in the 3rd quarter valued at about $46,000. Berylson Capital Partners LLC acquired a new stake in Blend Labs in the 4th quarter valued at about $52,000. Finally, Caxton Associates LP acquired a new stake in Blend Labs in the 1st quarter valued at about $60,000. Institutional investors and hedge funds own 52.56% of the company’s stock.
Insider Buying and Selling
In related news, insider Nima Ghamsari sold 81,434 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $2.93, for a total transaction of $238,601.62. Following the transaction, the insider now owns 2,103,516 shares in the company, valued at approximately $6,163,301.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.83% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Get Our Latest Stock Analysis on BLND
Blend Labs Trading Down 6.9 %
BLND opened at $2.58 on Friday. Blend Labs, Inc. has a one year low of $1.03 and a one year high of $3.40. The business’s 50-day simple moving average is $2.68 and its 200-day simple moving average is $2.71.
Blend Labs (NYSE:BLND – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $34.95 million for the quarter, compared to the consensus estimate of $33.94 million. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 90.62%. On average, analysts expect that Blend Labs, Inc. will post -0.39 earnings per share for the current 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.
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