Whetstone Capital Advisors LLC Invests $3.56 Million in Blend Labs, Inc. $BLND

Whetstone Capital Advisors LLC purchased a new position in Blend Labs, Inc. (NYSE:BLND) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,171,079 shares of the company’s stock, valued at approximately $3,560,000. Blend Labs accounts for about 1.1% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Whetstone Capital Advisors LLC owned about 0.45% of Blend Labs at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. ShawSpring Partners LLC increased its holdings in shares of Blend Labs by 10.4% in the third quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock worth $35,918,000 after purchasing an additional 929,566 shares during the period. State Street Corp increased its holdings in shares of Blend Labs by 2.0% in the fourth quarter. State Street Corp now owns 5,660,693 shares of the company’s stock worth $17,209,000 after purchasing an additional 112,330 shares during the period. Whitebark Investors LP increased its holdings in shares of Blend Labs by 14.7% in the third quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock worth $20,317,000 after purchasing an additional 712,315 shares during the period. Mirabella Financial Services LLP increased its holdings in shares of Blend Labs by 64.5% in the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock worth $9,650,000 after purchasing an additional 1,036,777 shares during the period. Finally, Marshall Wace LLP increased its stake in Blend Labs by 157.6% in the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock valued at $8,323,000 after acquiring an additional 1,543,220 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Blend Labs Stock Up 0.9%

BLND opened at $1.71 on Monday. The business’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $2.13. Blend Labs, Inc. has a 52 week low of $1.18 and a 52 week high of $4.49. The stock has a market cap of $412.81 million, a PE ratio of -17.05 and a beta of 1.09.

Wall Street Analyst Weigh In

BLND has been the topic of a number of research analyst reports. Weiss Ratings cut Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Citizens Jmp reduced their target price on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $3.50 target price on Blend Labs in a research note on Friday, May 8th. Keefe, Bruyette & Woods reduced their target price on Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research note on Friday, May 8th. Finally, Wells Fargo & Company reduced their target price on Blend Labs from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.32.

Blend Labs Company Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.