Cypress Point Wealth Management LLC Acquires 29,848 Shares of Blend Labs, Inc. (NYSE:BLND)

Cypress Point Wealth Management LLC raised its holdings in Blend Labs, Inc. (NYSE:BLND) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,447 shares of the company’s stock after buying an additional 29,848 shares during the period. Cypress Point Wealth Management LLC owned about 0.09% of Blend Labs worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new stake in Blend Labs during the second quarter worth approximately $31,000. Xponance Inc. acquired a new stake in Blend Labs during the second quarter worth approximately $35,000. Caxton Associates LP acquired a new stake in Blend Labs during the first quarter worth approximately $60,000. SG Americas Securities LLC acquired a new stake in Blend Labs during the first quarter worth approximately $70,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Blend Labs in the 1st quarter valued at $94,000. Institutional investors own 52.56% of the company’s stock.

Insider Transactions at Blend Labs

In related news, insider Winnie Ling sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the sale, the insider now directly owns 279,169 shares of the company’s stock, valued at $1,133,426.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 54,303 shares of company stock worth $192,926. Company insiders own 13.21% of the company’s stock.

Analyst Ratings Changes

BLND has been the topic of a number of research analyst reports. 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. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Canaccord Genuity Group raised their target price on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their target price on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.46.

Blend Labs Stock Up 7.0 %

Shares of NYSE:BLND traded up $0.31 during midday trading on Friday, reaching $4.75. 3,524,890 shares of the company traded hands, compared to its average volume of 2,282,138. The firm’s fifty day moving average price is $3.67 and its two-hundred day moving average price is $3.15. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.69 and a beta of 1.16. Blend Labs, Inc. has a 12 month low of $1.16 and a 12 month high of $4.75.

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

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.