PFG Advisors Buys 3,986 Shares of Blend Labs, Inc. (NYSE:BLND)

PFG Advisors lifted its holdings in shares of Blend Labs, Inc. (NYSE:BLND) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,762 shares of the company’s stock after purchasing an additional 3,986 shares during the quarter. PFG Advisors’ holdings in Blend Labs were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Blend Labs by 6.3% during the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after purchasing an additional 283,207 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Blend Labs during the third quarter worth about $676,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Blend Labs during the third quarter worth about $3,253,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Blend Labs by 7.9% during 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, Barclays PLC grew its holdings in shares of Blend Labs by 263.1% during the third quarter. Barclays PLC now owns 407,774 shares of the company’s stock worth $1,530,000 after purchasing an additional 295,460 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Insiders Place Their Bets

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total value of $128,100.00. Following the completion of the transaction, the insider now owns 896,759 shares in the company, valued at approximately $3,829,160.93. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 184,247 shares of company stock worth $731,959. 13.21% of the stock is owned by corporate insiders.

Blend Labs Trading Up 1.6 %

BLND opened at $3.55 on Friday. The stock has a fifty day simple moving average of $3.65 and a two-hundred day simple moving average of $3.97. The company has a market cap of $907.27 million, a price-to-earnings ratio of -10.43 and a beta of 1.40. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLND. Wells Fargo & Company boosted their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods cut their target price on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. UBS Group cut their target price on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, February 28th. Finally, JMP Securities assumed coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price for the company. Two research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.91.

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.