Advantage Alpha Capital Partners LP Invests $3.25 Million in Blend Labs, Inc. (NYSE:BLND)

Advantage Alpha Capital Partners LP bought a new position in Blend Labs, Inc. (NYSE:BLND) during the third quarter, according to its most recent filing with the SEC. The firm bought 867,498 shares of the company’s stock, valued at approximately $3,253,000. Advantage Alpha Capital Partners LP owned approximately 0.34% of Blend Labs as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Blend Labs by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock valued at $6,161,000 after buying an additional 120,152 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth about $194,000. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth about $77,000. GSA Capital Partners LLP bought a new position in Blend Labs in the 3rd quarter valued at about $314,000. Finally, Cypress Point Wealth Management LLC boosted its stake in Blend Labs by 15.2% during the 3rd quarter. Cypress Point Wealth Management LLC now owns 226,447 shares of the company’s stock valued at $849,000 after purchasing an additional 29,848 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Insider Buying and Selling at Blend Labs

In related news, Director Timothy J. Mayopoulos sold 42,721 shares of the 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 sale, the director now owns 387,620 shares in the company, valued at approximately $1,938,100. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Winnie Ling sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the sale, the insider now directly owns 279,169 shares in the company, valued at approximately $1,133,426.14. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,024 shares of company stock valued at $406,531 in the last quarter. 13.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BLND shares. Keefe, Bruyette & Woods increased their price objective on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.00 to $4.75 in a research note on Monday, August 12th. UBS Group lifted 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. Canaccord Genuity Group increased their target price on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.46.

Blend Labs Stock Performance

NYSE:BLND opened at $5.28 on Tuesday. The business’s fifty day moving average is $3.96 and its 200 day moving average is $3.34. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -15.53 and a beta of 1.16. Blend Labs, Inc. has a 52-week low of $1.21 and a 52-week high of $5.40.

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.