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

Next Century Growth Investors LLC raised its stake in Blend Labs, Inc. (NYSE:BLND) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,497,871 shares of the company’s stock after buying an additional 7,068 shares during the quarter. Next Century Growth Investors LLC’s holdings in Blend Labs were worth $6,306,000 as of its most recent SEC filing.

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

Blend Labs Trading Down 1.5 %

BLND opened at $3.06 on Friday. The firm has a 50 day moving average of $3.52 and a two-hundred day moving average of $3.93. The firm has a market capitalization of $793.27 million, a PE ratio of -8.99 and a beta of 1.29. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BLND shares. JMP Securities initiated coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective for the company. UBS Group dropped their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods cut their price objective on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Canaccord Genuity Group lowered their target price on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Two 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.com, the company has an average rating of “Moderate Buy” and an average target price of $4.91.

Insider Buying and Selling

In related news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the transaction, the insider now directly owns 836,759 shares in the company, valued at approximately $2,853,348.19. This trade represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 90,000 shares of company stock valued at $321,900 over the last 90 days. Insiders own 13.21% of the company’s stock.

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.