Advantage Alpha Capital Partners LP Invests $3.25 Million in Blend Labs, Inc. (NYSE:BLND)

Advantage Alpha Capital Partners LP acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND) during the third quarter, HoldingsChannel reports. The fund acquired 867,498 shares of the company’s stock, valued at approximately $3,253,000.

A number of other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Blend Labs during the first quarter worth approximately $70,000. Vanguard Group Inc. raised its position in Blend Labs by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after purchasing an additional 46,526 shares during the period. Caxton Associates LP purchased a new position in Blend Labs in the 1st quarter worth $60,000. Bayesian Capital Management LP bought a new stake in Blend Labs in the first quarter worth $102,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Blend Labs by 977.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 409,217 shares of the company’s stock valued at $1,330,000 after buying an additional 371,233 shares during the period. Institutional investors own 52.56% of the company’s stock.

Insider Buying and Selling

In other news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00. Following the completion of the transaction, the insider now directly owns 279,169 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the sale, the director now directly owns 387,620 shares in the company, valued at approximately $1,938,100. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,024 shares of company stock valued at $406,531 over the last ninety days. Company insiders own 13.21% of the company’s stock.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $5.28 on Tuesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of -15.53 and a beta of 1.16. The stock has a 50 day moving average price of $3.96 and a 200-day moving average price of $3.34. Blend Labs, Inc. has a 52-week low of $1.21 and a 52-week high of $5.40.

Analysts Set New Price Targets

Several research analysts have recently commented on BLND shares. UBS Group lifted their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a research note on Thursday, November 7th. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.46.

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.