EP Wealth Advisors LLC Has $859,000 Position in Blend Labs, Inc. (NYSE:BLND)

EP Wealth Advisors LLC grew its holdings in Blend Labs, Inc. (NYSE:BLND) by 7.6% in the 3rd quarter, Holdings Channel reports. The fund owned 229,002 shares of the company’s stock after purchasing an additional 16,161 shares during the quarter. EP Wealth Advisors LLC’s holdings in Blend Labs were worth $859,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. ShawSpring Partners LLC raised its position in Blend Labs by 58.7% in the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after buying an additional 2,485,283 shares during the last quarter. State Street Corp boosted its holdings in Blend Labs by 57.6% during the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock worth $20,482,000 after purchasing an additional 1,995,362 shares during the last quarter. Principal Financial Group Inc. grew its position in Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after purchasing an additional 2,390,337 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its position in Blend Labs by 452.7% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock worth $7,109,000 after buying an additional 1,552,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Blend Labs by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock worth $6,161,000 after buying an additional 120,152 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLND has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target 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. UBS Group upped their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their price objective on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price objective on Blend Labs from $4.75 to $5.75 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 and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.79.

Blend Labs Stock Down 0.6 %

Shares of Blend Labs stock opened at $5.09 on Wednesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -14.97 and a beta of 1.33. The company’s fifty day moving average is $4.24 and its 200 day moving average is $3.51. Blend Labs, Inc. has a twelve month low of $1.58 and a twelve month high of $5.53.

Insiders Place Their Bets

In related news, insider Winnie Ling sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00. Following the transaction, the insider now directly owns 279,169 shares of the company’s stock, valued at $1,133,426.14. This trade represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.50, for a total value of $310,695.00. Following the completion of the transaction, the director now directly owns 331,130 shares of the company’s stock, valued at approximately $1,821,215. This represents a 14.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,838 shares of company stock worth $812,144. Corporate insiders own 13.21% of the company’s stock.

About Blend Labs

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.