Advantage Alpha Capital Partners LP Trims Stake in Blend Labs, Inc. (NYSE:BLND)

Advantage Alpha Capital Partners LP lessened its holdings in Blend Labs, Inc. (NYSE:BLND) by 35.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 563,716 shares of the company’s stock after selling 303,782 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Blend Labs were worth $2,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Blend Labs in the fourth quarter valued at approximately $42,000. Olympiad Research LP purchased a new stake in Blend Labs during the 4th quarter valued at about $47,000. Trellis Wealth Advisors LLC purchased a new position in shares of Blend Labs during the 4th quarter worth $57,000. BBR Partners LLC acquired a new stake in Blend Labs during the fourth quarter worth $60,000. Finally, Virtu Financial LLC acquired a new stake in Blend Labs in the 3rd quarter valued at approximately $63,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Insiders Place Their Bets

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total value of $128,100.00. Following the completion of the transaction, the insider now owns 896,759 shares in the company, valued at approximately $3,829,160.93. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 150,000 shares of company stock worth $561,900 over the last quarter. Company insiders own 13.21% of the company’s stock.

Blend Labs Stock Down 1.7 %

Shares of NYSE:BLND opened at $3.66 on Monday. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The company has a market cap of $935.42 million, a price-to-earnings ratio of -10.75 and a beta of 1.40. The business has a 50 day moving average price of $3.64 and a 200 day moving average price of $3.97.

Wall Street Analysts Forecast Growth

BLND has been the topic of several analyst reports. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group decreased their target price on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities initiated coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Two research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.91.

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.