Next Century Growth Investors LLC Raises Holdings in Blend Labs, Inc. (NYSE:BLND)

Next Century Growth Investors LLC increased its position in Blend Labs, Inc. (NYSE:BLND) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,497,871 shares of the company’s stock after buying an additional 7,068 shares during the period. Next Century Growth Investors LLC owned 0.59% of Blend Labs worth $6,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in shares of Blend Labs during the 4th quarter worth approximately $42,000. Olympiad Research LP purchased a new stake in Blend Labs during the fourth quarter valued at $47,000. Trellis Wealth Advisors LLC bought a new position in Blend Labs during the fourth quarter valued at $57,000. BBR Partners LLC purchased a new position in shares of Blend Labs in the 4th quarter worth $60,000. Finally, Virtu Financial LLC bought a new stake in shares of Blend Labs in the 3rd quarter worth about $63,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Price Performance

Shares of BLND opened at $3.06 on Friday. The firm has a market capitalization of $793.27 million, a price-to-earnings ratio of -8.99 and a beta of 1.29. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The company has a 50-day moving average of $3.52 and a 200 day moving average of $3.93.

Insider Transactions at Blend Labs

In related news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the completion of the sale, the insider now directly owns 836,759 shares in the company, valued at $2,853,348.19. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 90,000 shares of company stock valued at $321,900. 13.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on BLND shares. Canaccord Genuity Group dropped their price target on Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday, February 28th. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their target price on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. UBS Group dropped their price target on shares of 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 shares of Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.