Blend Labs, Inc. (NYSE:BLND) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 17.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 100,060 shares of the company’s stock after selling 21,785 shares during the period. Kingsview Wealth Management LLC’s holdings in Blend Labs were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after purchasing an additional 3,576 shares during the last quarter. Calamos Advisors LLC increased its holdings in Blend Labs by 3.6% during the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,366 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Blend Labs by 7.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 229,002 shares of the company’s stock worth $859,000 after purchasing an additional 16,161 shares during the last quarter. Virtu Financial LLC purchased a new stake in Blend Labs during the 3rd quarter worth approximately $63,000. Finally, RiverPark Advisors LLC purchased a new stake in Blend Labs during the 3rd quarter worth approximately $77,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Price Performance

Shares of BLND opened at $3.91 on Friday. The company has a market cap of $999.41 million, a P/E ratio of -11.48 and a beta of 1.36. The stock has a fifty day moving average price of $4.13 and a 200 day moving average price of $3.95. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53.

Insider Buying and Selling

In other Blend Labs news, insider Oxana Tkach sold 18,324 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.18, for a total transaction of $94,918.32. Following the completion of the transaction, the insider now owns 88,677 shares in the company, valued at approximately $459,346.86. The trade was a 17.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction on 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 owns 387,620 shares of the company’s stock, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 331,782 shares of company stock worth $1,504,778 in the last three months. 13.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a report on Friday, December 20th. JMP Securities assumed coverage on Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.11.

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.