147,684 Shares in Blend Labs, Inc. (NYSE:BLND) Acquired by Fullcircle Wealth LLC

Fullcircle Wealth LLC purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 147,684 shares of the company’s stock, valued at approximately $508,000. Fullcircle Wealth LLC owned 0.06% of Blend Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the second quarter valued at approximately $31,000. Xponance Inc. bought a new position in shares of Blend Labs in the second quarter valued at approximately $35,000. Caxton Associates LP bought a new position in shares of Blend Labs in the first quarter valued at approximately $60,000. SG Americas Securities LLC bought a new position in shares of Blend Labs in the first quarter valued at approximately $70,000. Finally, Team Hewins LLC bought a new position in shares of Blend Labs in the first quarter valued at approximately $87,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BLND. Keefe, Bruyette & Woods raised their price objective on shares of Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a research note on Monday, August 12th. The Goldman Sachs Group raised their price objective on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Finally, UBS Group lifted their price target on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.94.

Blend Labs Price Performance

Shares of Blend Labs stock remained flat at $3.63 during trading on Friday. The company had a trading volume of 1,197,531 shares, compared to its average volume of 2,258,008. The stock has a 50 day moving average of $3.64 and a 200-day moving average of $3.09. Blend Labs, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $4.25. The firm has a market capitalization of $922.89 million, a PE ratio of -7.40 and a beta of 1.15.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $40.48 million during the quarter, compared to the consensus estimate of $39.50 million. Sell-side analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blend Labs news, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the completion of the sale, the insider now directly owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 54,303 shares of company stock valued at $192,926. 13.21% of the stock is currently owned by insiders.

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.