Blend Labs, Inc. (NYSE:BLND) Holdings Lifted by Calamos Advisors LLC

Calamos Advisors LLC raised its stake in Blend Labs, Inc. (NYSE:BLNDFree Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 299,995 shares of the company’s stock after buying an additional 10,366 shares during the quarter. Calamos Advisors LLC’s holdings in Blend Labs were worth $1,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BLND. State Street Corp increased 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 worth $20,482,000 after buying an additional 1,995,362 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Blend Labs by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after purchasing an additional 283,207 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after buying an additional 2,390,337 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its holdings in Blend Labs by 452.7% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock valued at $7,109,000 after purchasing an additional 1,552,865 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Blend Labs by 193.5% in the third 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. 52.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. 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 directly owns 776,759 shares in the company, valued at $2,897,311.07. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 387,620 shares in the company, valued at approximately $1,938,100. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 331,782 shares of company stock valued at $1,504,778. 13.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BLND. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. Keefe, Bruyette & Woods upped their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. UBS Group lifted their target price on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JMP Securities began coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Read Our Latest Stock Report on BLND

Blend Labs Stock Up 7.0 %

Shares of BLND stock opened at $4.04 on Wednesday. The firm has a market cap of $1.03 billion, a PE ratio of -11.87 and a beta of 1.36. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The company’s fifty day simple moving average is $4.30 and its 200-day simple moving average is $3.92.

Blend Labs (NYSE:BLNDGet Free Report) last issued 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 for the quarter, compared to analysts’ expectations of $41.30 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. On average, equities analysts predict that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

About Blend Labs

(Free Report)

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.

Further Reading

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

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