Blend Labs, Inc. (NYSE:BLND) Shares Sold by Adero Partners LLC

Adero Partners LLC lowered its position in shares of Blend Labs, Inc. (NYSE:BLND) by 33.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,815 shares of the company’s stock after selling 7,407 shares during the quarter. Adero Partners LLC’s holdings in Blend Labs were worth $56,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in shares of Blend Labs during the 2nd quarter worth approximately $31,000. Xponance Inc. acquired a new stake in shares of Blend Labs during the 2nd quarter worth approximately $35,000. Caxton Associates LP acquired a new stake in shares of Blend Labs during the 1st quarter worth approximately $60,000. SG Americas Securities LLC acquired a new stake in shares of Blend Labs during the 1st quarter worth approximately $70,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Blend Labs during the 1st quarter worth approximately $102,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $4.32 on Monday. The stock has a fifty day moving average price of $3.78 and a two-hundred day moving average price of $3.23. The firm has a market cap of $1.11 billion, a P/E ratio of -12.71 and a beta of 1.16. Blend Labs, Inc. has a 1 year low of $1.18 and a 1 year high of $4.84.

Analyst Ratings Changes

A number of analysts have recently weighed in on BLND shares. Wells Fargo & Company increased their price target on Blend Labs from $3.50 to $4.50 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $4.75 in a report on Monday, August 12th. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.46.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $3.33, for a total transaction of $66,600.00. Following the completion of the transaction, the insider now directly owns 286,416 shares of the company’s stock, valued at approximately $953,765.28. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 54,303 shares of company stock valued at $192,926. 13.21% of the stock is owned by corporate insiders.

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.