Cinctive Capital Management LP Takes Position in Blend Labs, Inc. $BLND

Cinctive Capital Management LP acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 640,912 shares of the company’s stock, valued at approximately $2,339,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PFG Advisors increased its position in Blend Labs by 7.3% in the 3rd quarter. PFG Advisors now owns 75,272 shares of the company’s stock valued at $275,000 after acquiring an additional 5,131 shares during the period. Savvy Advisors Inc. bought a new stake in Blend Labs during the 3rd quarter valued at $37,000. Fullcircle Wealth LLC boosted its position in Blend Labs by 7.0% during the 3rd quarter. Fullcircle Wealth LLC now owns 156,093 shares of the company’s stock worth $570,000 after acquiring an additional 10,229 shares during the period. Huntleigh Advisors Inc. grew its stake in shares of Blend Labs by 6.4% in the third quarter. Huntleigh Advisors Inc. now owns 172,989 shares of the company’s stock worth $631,000 after purchasing an additional 10,424 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Blend Labs in the second quarter worth $35,000. 52.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Brian Kneafsey sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $3.06, for a total transaction of $76,500.00. Following the completion of the transaction, the insider owned 649,824 shares of the company’s stock, valued at $1,988,461.44. This trade represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 33,125 shares of company stock worth $93,169 over the last ninety days. Company insiders own 35.52% of the company’s stock.

Blend Labs Stock Performance

Shares of BLND stock opened at $1.47 on Tuesday. Blend Labs, Inc. has a 1 year low of $1.45 and a 1 year high of $4.49. The business’s fifty day moving average is $2.21 and its 200-day moving average is $2.96. The stock has a market cap of $380.53 million, a PE ratio of -14.65 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BLND shares. Citizens Jmp lowered their price target on Blend Labs from $7.00 to $5.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. Wells Fargo & Company decreased their target price on shares of Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, January 21st. Finally, UBS Group dropped their price target on shares of Blend Labs from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.13.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.