Blend Labs, Inc. $BLND Stock Position Reduced by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Blend Labs, Inc. (NYSE:BLND) by 17.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,027 shares of the company’s stock after selling 19,593 shares during the period. Intech Investment Management LLC’s holdings in Blend Labs were worth $310,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BLND. Creative Planning lifted its position in Blend Labs by 81.4% in the 2nd quarter. Creative Planning now owns 34,036 shares of the company’s stock valued at $112,000 after purchasing an additional 15,276 shares during the last quarter. Savant Capital LLC raised its holdings in Blend Labs by 72.2% during the second quarter. Savant Capital LLC now owns 29,694 shares of the company’s stock worth $98,000 after purchasing an additional 12,452 shares in the last quarter. Brighton Jones LLC acquired a new stake in Blend Labs in the second quarter worth approximately $79,000. Focus Partners Advisor Solutions LLC bought a new position in Blend Labs during the 2nd quarter valued at $44,000. Finally, Huntleigh Advisors Inc. increased its position in shares of Blend Labs by 5.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 162,565 shares of the company’s stock valued at $536,000 after purchasing an additional 8,830 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Stock Up 1.0%

Shares of NYSE:BLND opened at $3.16 on Monday. Blend Labs, Inc. has a 12-month low of $2.50 and a 12-month high of $5.53. The firm has a market capitalization of $820.80 million, a P/E ratio of -31.60 and a beta of 1.23. The firm has a fifty day moving average of $3.31 and a two-hundred day moving average of $3.45.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a report on Tuesday, October 28th. Wall Street Zen raised shares of Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Keefe, Bruyette & Woods decreased their price target on shares of Blend Labs from $4.00 to $3.75 and set a “market perform” rating on the stock in a research report on Friday, August 8th. UBS Group cut their price objective on Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.80.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the sale, the insider directly owned 687,909 shares of the company’s stock, valued at $2,297,616.06. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 35.52% 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.