Prospect Capital Advisors LLC Trims Holdings in Blend Labs, Inc. $BLND

Prospect Capital Advisors LLC trimmed its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 59.8% during the first quarter, HoldingsChannel.com reports. The firm owned 731,450 shares of the company’s stock after selling 1,088,700 shares during the quarter. Blend Labs makes up 0.7% of Prospect Capital Advisors LLC’s portfolio, making the stock its 28th largest position. Prospect Capital Advisors LLC’s holdings in Blend Labs were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Essential Partners LLC boosted its stake in Blend Labs by 21,768.1% in the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock worth $27,000 after purchasing an additional 15,673 shares during the period. Bank of America Corp DE increased its position in shares of Blend Labs by 6.8% during the first quarter. Bank of America Corp DE now owns 340,757 shares of the company’s stock valued at $579,000 after buying an additional 21,713 shares during the period. Rice Hall James & Associates LLC increased its position in shares of Blend Labs by 14.0% during the first quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company’s stock valued at $1,711,000 after buying an additional 123,699 shares during the period. Sei Investments Co. lifted its holdings in shares of Blend Labs by 99.0% in the first quarter. Sei Investments Co. now owns 258,688 shares of the company’s stock worth $440,000 after buying an additional 128,677 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of Blend Labs by 25.0% in the first quarter. Chicago Partners Investment Group LLC now owns 67,224 shares of the company’s stock worth $108,000 after buying an additional 13,428 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citizens Jmp restated a “market outperform” rating and issued a $4.00 price objective on shares of Blend Labs in a research report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Blend Labs in a research note on Tuesday, July 21st. The Goldman Sachs Group set a $3.50 price target on shares of Blend Labs in a report on Friday, May 8th. Zacks Research lowered shares of Blend Labs from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Canaccord Genuity Group reduced their price target on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.32.

Blend Labs Trading Up 2.0%

Shares of BLND opened at $1.78 on Friday. Blend Labs, Inc. has a 12-month low of $1.18 and a 12-month high of $4.49. The company has a market cap of $432.18 million, a PE ratio of -17.85 and a beta of 1.10. The stock has a 50-day moving average price of $1.72 and a 200-day moving average price of $1.80.

Blend Labs 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.