11,905 Shares in Blend Labs, Inc. (NYSE:BLND) Bought by Walleye Capital LLC

Walleye Capital LLC acquired a new stake in Blend Labs, Inc. (NYSE:BLNDGet Rating) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,905 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds have also recently added to or reduced their stakes in BLND. Solstein Capital LLC bought a new position in shares of Blend Labs during the first quarter worth $68,000. CTC Capital Management LLC acquired a new stake in shares of Blend Labs during the first quarter worth about $60,000. JPMorgan Chase & Co. lifted its holdings in shares of Blend Labs by 3,104.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,774,979 shares of the company’s stock valued at $10,117,000 after purchasing an additional 1,719,592 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Blend Labs in the 1st quarter valued at approximately $6,897,000. Finally, Jeneq Management LP bought a new stake in Blend Labs during the 1st quarter worth approximately $286,000. Institutional investors and hedge funds own 59.45% of the company’s stock.

Blend Labs Trading Down 11.5 %

Shares of Blend Labs stock opened at $1.62 on Tuesday. Blend Labs, Inc. has a 12-month low of $1.56 and a 12-month high of $12.00. The company has a quick ratio of 10.29, a current ratio of 10.29 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $2.30 and its 200-day moving average is $2.78. The stock has a market cap of $364.61 million, a P/E ratio of -0.50 and a beta of 0.99.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Blend Labs from $4.00 to $3.00 and set a “hold” rating for the company in a report on Monday, November 14th. Wells Fargo & Company lowered their target price on Blend Labs from $3.00 to $2.50 and set an “equal weight” rating for the company in a report on Friday, November 11th. The Goldman Sachs Group cut their price target on Blend Labs from $5.25 to $3.25 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Keefe, Bruyette & Woods upgraded Blend Labs from an “underperform” rating to a “market perform” rating and set a $2.25 price objective for the company in a report on Sunday, November 13th. Finally, Canaccord Genuity Group dropped their target price on Blend Labs from $5.00 to $4.00 in a research report on Friday, August 19th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.68.

Insiders Place Their Bets

In other news, insider Crystal Sumner sold 12,920 shares of the business’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $2.26, for a total transaction of $29,199.20. Following the transaction, the insider now directly owns 599,772 shares in the company, valued at approximately $1,355,484.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 95,001 shares of company stock valued at $243,731. 15.57% of the stock is currently owned by corporate insiders.

Blend Labs Profile

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Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.

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Institutional Ownership by Quarter for Blend Labs (NYSE:BLND)

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