Summit Trail Advisors LLC Purchases 4,953 Shares of Blend Labs, Inc. (NYSE:BLND)

Summit Trail Advisors LLC raised its position in shares of Blend Labs, Inc. (NYSE:BLND) by 38.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,947 shares of the company’s stock after acquiring an additional 4,953 shares during the quarter. Summit Trail Advisors LLC’s holdings in Blend Labs were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BLND. The Manufacturers Life Insurance Company bought a new stake in shares of Blend Labs in the 2nd quarter worth approximately $211,000. Fullcircle Wealth LLC bought a new stake in shares of Blend Labs in the 3rd quarter worth approximately $508,000. Principal Financial Group Inc. boosted its position in shares of Blend Labs by 697.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after purchasing an additional 2,390,337 shares in the last quarter. Cypress Point Wealth Management LLC boosted its position in shares of Blend Labs by 15.2% in the 3rd quarter. Cypress Point Wealth Management LLC now owns 226,447 shares of the company’s stock worth $849,000 after purchasing an additional 29,848 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Blend Labs in the 3rd quarter worth approximately $314,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Trading Up 0.1 %

Shares of BLND opened at $3.91 on Friday. The firm has a market cap of $999.41 million, a PE ratio of -11.48 and a beta of 1.36. The firm has a fifty day simple moving average of $4.13 and a two-hundred day simple moving average of $3.95. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53.

Analysts Set New Price Targets

BLND has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Two investment 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 stock. According to data from MarketBeat.com, Blend Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total value of $153,600.00. Following the completion of the sale, the insider now directly owns 937,439 shares in the company, valued at $4,799,687.68. This represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the company’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 331,782 shares of company stock worth $1,504,778. Insiders own 13.21% of the company’s stock.

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.