13,557 Shares in Blend Labs, Inc. (NYSE:BLND) Acquired by Trellis Wealth Advisors LLC

Trellis Wealth Advisors LLC purchased a new position in Blend Labs, Inc. (NYSE:BLND) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,557 shares of the company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ieq Capital LLC lifted its position in shares of Blend Labs by 71.5% in the 4th quarter. Ieq Capital LLC now owns 93,016 shares of the company’s stock worth $392,000 after purchasing an additional 38,777 shares during the period. Rhumbline Advisers lifted its position in shares of Blend Labs by 7.1% in the 4th quarter. Rhumbline Advisers now owns 292,743 shares of the company’s stock worth $1,232,000 after purchasing an additional 19,336 shares during the period. Quadrant Private Wealth Management LLC acquired a new position in shares of Blend Labs in the 4th quarter worth approximately $320,000. Summit Trail Advisors LLC lifted its position in shares of Blend Labs by 38.1% in the 4th 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. Finally, Calamos Advisors LLC lifted its position in shares of Blend Labs by 3.6% in the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,366 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $5.12, for a total transaction of $153,600.00. Following the completion of the sale, the insider now owns 937,439 shares in the company, valued at approximately $4,799,687.68. The trade was a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $5.50, for a total transaction of $310,695.00. Following the sale, the director now owns 331,130 shares of the company’s stock, valued at $1,821,215. This trade represents a 14.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 289,061 shares of company stock worth $1,291,173. 13.21% of the stock is owned by corporate insiders.

Blend Labs Trading Down 4.2 %

Shares of BLND stock opened at $3.78 on Friday. The firm has a market capitalization of $966.14 million, a PE ratio of -11.10 and a beta of 1.36. The firm has a fifty day simple moving average of $3.98 and a two-hundred day simple moving average of $4.00. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BLND shares. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a research report on Friday, December 20th. Wells Fargo & Company boosted their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JMP Securities assumed coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 target price on the stock. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.11.

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.