Dynamic Technology Lab Private Ltd Takes Position in Blend Labs, Inc. (NYSE:BLND)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 88,317 shares of the company’s stock, valued at approximately $372,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after buying an additional 3,576 shares during the last quarter. PFG Advisors raised its holdings in shares of Blend Labs by 6.3% in the 4th quarter. PFG Advisors now owns 67,762 shares of the company’s stock valued at $285,000 after buying an additional 3,986 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Blend Labs by 38.1% in the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock valued at $76,000 after buying an additional 4,953 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Blend Labs by 31.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 28,586 shares of the company’s stock valued at $120,000 after buying an additional 6,763 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in shares of Blend Labs in the 4th quarter valued at $42,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.59, for a total value of $107,700.00. Following the transaction, the insider now owns 806,759 shares in the company, valued at approximately $2,896,264.81. This represents a 3.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 90,000 shares of company stock worth $321,900. 13.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLND. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. JMP Securities initiated coverage on Blend Labs in a report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price target on the stock. UBS Group cut their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Canaccord Genuity Group cut their price target on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.91.

Blend Labs Stock Performance

BLND opened at $3.19 on Thursday. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53. The company has a market cap of $828.32 million, a P/E ratio of -9.38 and a beta of 1.29. The business’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.94.

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.