Royce & Associates LP Invests $3.41 Million in Blend Labs, Inc. (NYSE:BLND)

Royce & Associates LP acquired a new position in Blend Labs, Inc. (NYSE:BLND) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 809,000 shares of the company’s stock, valued at approximately $3,406,000.

Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs in the 4th quarter worth $42,000. Olympiad Research LP acquired a new stake in shares of Blend Labs in the 4th quarter worth $47,000. Trellis Wealth Advisors LLC acquired a new stake in shares of Blend Labs in the 4th quarter worth $57,000. BBR Partners LLC acquired a new stake in shares of Blend Labs in the 4th quarter worth $60,000. Finally, Virtu Financial LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth $63,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Stock Up 1.9 %

Shares of BLND stock opened at $3.55 on Thursday. The stock has a market cap of $907.27 million, a PE ratio of -10.43 and a beta of 1.40. The business has a 50-day simple moving average of $3.64 and a 200-day simple moving average of $3.97. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53.

Insider Activity

In related news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the transaction, the insider now owns 866,759 shares in the company, valued at $3,233,011.07. The trade was a 3.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 154,247 shares of company stock valued at $580,459 in the last quarter. 13.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BLND has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research report on Monday, March 3rd. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. UBS Group lowered their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group lowered 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.