HRT Financial LP Purchases New Holdings in Blend Labs, Inc. (NYSE:BLND)

Posted by on Jun 2nd, 2023

HRT Financial LP acquired a new position in Blend Labs, Inc. (NYSE:BLND – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 552,143 shares of the company’s stock, valued at approximately $795,000. HRT Financial LP owned 0.25% of Blend Labs at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Blend Labs by 47.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,507 shares of the company’s stock valued at $192,000 after purchasing an additional 42,806 shares in the last quarter. HST Ventures LLC bought a new stake in Blend Labs in the fourth quarter valued at about $367,000. Commonwealth Equity Services LLC acquired a new position in Blend Labs in the fourth quarter worth about $118,000. Klingman & Associates LLC bought a new position in Blend Labs during the fourth quarter worth about $341,000. Finally, Stegent Equity Advisors Inc. acquired a new stake in Blend Labs during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 60.42% of the company’s stock.

Insider Buying and Selling at Blend Labs

In other news, insider Nima Ghamsari sold 230,770 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $0.61, for a total value of $140,769.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 15.57% of the company’s stock.

Wall Street Analysts Forecast Growth

BLND has been the subject of several analyst reports. Piper Sandler cut their target price on Blend Labs from $2.40 to $1.30 in a research report on Monday, March 20th. Keefe, Bruyette & Woods upped their target price on shares of Blend Labs from $1.30 to $1.40 and gave the stock a “market perform” rating in a report on Thursday, March 9th. Wells Fargo & Company cut their price target on shares of Blend Labs from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Friday, March 17th. Finally, Canaccord Genuity Group decreased their price objective on shares of Blend Labs from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Friday, March 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Blend Labs has an average rating of “Hold” and a consensus price target of $2.24.

Blend Labs Price Performance

Shares of BLND stock opened at $1.02 on Friday. Blend Labs, Inc. has a 1 year low of $0.53 and a 1 year high of $3.85. The company has a current ratio of 8.77, a quick ratio of 8.77 and a debt-to-equity ratio of 3.05. The firm’s 50 day moving average is $0.86 and its 200-day moving average is $1.29. The firm has a market capitalization of $236.80 million, a price-to-earnings ratio of -0.31 and a beta of 0.33.

Blend Labs (NYSE:BLND – Get Rating) last issued its quarterly earnings results on Thursday, March 16th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.15). The firm had revenue of $42.79 million for the quarter, compared to analyst estimates of $44.60 million. Blend Labs had a negative net margin of 379.35% and a negative return on equity of 172.11%. Sell-side analysts forecast that Blend Labs, Inc. will post -0.77 EPS for the current fiscal year.

About Blend Labs

(Get Rating)

Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.

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Institutional Ownership by Quarter for Blend Labs (NYSE:BLND)

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