Castleview Partners LLC Invests $64,000 in Blend Labs, Inc. (NYSE:BLND)

Castleview Partners LLC purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 19,009 shares of the company’s stock, valued at approximately $64,000.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of Blend Labs during the 4th quarter worth approximately $42,000. Merit Financial Group LLC purchased a new stake in shares of Blend Labs during the 1st quarter worth approximately $36,000. Balyasny Asset Management L.P. purchased a new stake in shares of Blend Labs during the 4th quarter worth approximately $46,000. Olympiad Research LP purchased a new stake in shares of Blend Labs during the 4th quarter worth approximately $47,000. Finally, Trellis Wealth Advisors LLC purchased a new stake in shares of Blend Labs during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 44,130 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $3.52, for a total transaction of $155,337.60. Following the transaction, the insider now owns 6,065,937 shares of the company’s stock, valued at $21,352,098.24. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 35.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group decreased their price target on Blend Labs from $5.60 to $4.80 and set a “buy” rating on the stock in a research note on Monday, May 12th. Keefe, Bruyette & Woods upped their target price on Blend Labs from $3.50 to $4.00 and gave the company a “market perform” rating in a research note on Monday, May 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 target price on shares of Blend Labs in a research note on Wednesday, May 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a research note on Monday, May 12th. Finally, UBS Group reduced their target price on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.90.

Blend Labs Stock Down 1.1%

Shares of Blend Labs stock opened at $3.19 on Friday. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The firm has a market cap of $827.02 million, a PE ratio of -15.92 and a beta of 1.30. The business’s fifty day moving average is $3.41 and its two-hundred day moving average is $3.68.

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.