31,361 Shares in Blend Labs, Inc. (NYSE:BLND) Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC acquired a new stake in Blend Labs, Inc. (NYSE:BLND) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,361 shares of the company’s stock, valued at approximately $132,000.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Blend Labs by 697.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after buying an additional 2,390,337 shares during the period. State Street Corp lifted its holdings in Blend Labs by 57.6% in the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock valued at $20,482,000 after acquiring an additional 1,995,362 shares during the period. Summit Partners Public Asset Management LLC boosted its position in shares of Blend Labs by 452.7% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock worth $7,109,000 after purchasing an additional 1,552,865 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Blend Labs by 193.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company’s stock worth $6,431,000 after purchasing an additional 1,130,706 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new position in shares of Blend Labs in the 3rd quarter valued at about $3,253,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Insider Buying and Selling

In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of the business’s 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 sale, the insider now owns 836,759 shares of the company’s stock, valued at $2,853,348.19. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,782 shares of company stock valued at $1,392,878. Insiders own 13.21% of the company’s stock.

Blend Labs Stock Up 2.5 %

Shares of NYSE:BLND opened at $3.93 on Wednesday. The business has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $3.89. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The company has a market cap of $1.00 billion, a P/E ratio of -11.54 and a beta of 1.38.

Blend Labs (NYSE:BLND) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $45.18 million during the quarter, compared to the consensus estimate of $41.30 million. During the same period last year, the business earned ($0.13) EPS. Sell-side analysts expect that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLND shares. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a research report on Friday, December 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.11.

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.