Olympiad Research LP Makes New Investment in Blend Labs, Inc. (NYSE:BLND)

Olympiad Research LP acquired a new stake in Blend Labs, Inc. (NYSE:BLND) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,226 shares of the company’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trellis Wealth Advisors LLC acquired a new stake in Blend Labs during the fourth quarter worth approximately $57,000. Virtu Financial LLC acquired a new position in Blend Labs in the third quarter valued at about $63,000. Summit Trail Advisors LLC lifted its position in Blend Labs by 38.1% during the fourth quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock worth $76,000 after purchasing an additional 4,953 shares during the period. RiverPark Advisors LLC acquired a new stake in Blend Labs during the third quarter worth about $77,000. Finally, FMR LLC increased its holdings in Blend Labs by 15.8% in the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after buying an additional 3,576 shares during the period. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLND. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research report on Friday, December 20th. The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Insider Transactions at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the completion of the transaction, the insider now owns 907,439 shares of the company’s stock, valued at approximately $4,582,566.95. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total transaction of $310,695.00. Following the completion of the sale, the director now directly owns 331,130 shares in the company, valued at approximately $1,821,215. This represents a 14.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,737 shares of company stock worth $1,196,254. Insiders own 13.21% of the company’s stock.

Blend Labs Stock Down 5.7 %

Shares of BLND stock opened at $3.57 on Tuesday. The firm has a market capitalization of $912.39 million, a P/E ratio of -10.48 and a beta of 1.36. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The stock’s fifty day simple moving average is $3.95 and its 200 day simple moving average is $4.02.

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.