Royce & Associates LP Increases Stock Position in Blend Labs, Inc. $BLND

Royce & Associates LP increased its position in shares of Blend Labs, Inc. (NYSE:BLND) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,978,135 shares of the company’s stock after buying an additional 306,895 shares during the period. Royce & Associates LP’s holdings in Blend Labs were worth $6,014,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BLND. Park West Asset Management LLC purchased a new stake in Blend Labs during the third quarter worth $6,205,000. Marshall Wace LLP raised its position in Blend Labs by 157.6% during the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after acquiring an additional 1,543,220 shares during the period. Prospect Capital Advisors LLC raised its position in Blend Labs by 338.2% during the third quarter. Prospect Capital Advisors LLC now owns 1,820,150 shares of the company’s stock worth $6,644,000 after acquiring an additional 1,404,750 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in Blend Labs during the third quarter worth $4,490,000. Finally, Mirabella Financial Services LLP raised its position in Blend Labs by 64.5% during the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock worth $9,650,000 after acquiring an additional 1,036,777 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLND shares. Canaccord Genuity Group reduced their price objective on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 15th. The Goldman Sachs Group set a $3.50 price objective on shares of Blend Labs in a research report on Friday, May 8th. Citizens Jmp reduced their price objective on shares of Blend Labs from $5.00 to $4.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Company reduced their price objective 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. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.32.

Blend Labs Stock Performance

NYSE:BLND opened at $1.80 on Friday. The company has a fifty day moving average of $1.58 and a two-hundred day moving average of $2.23. The stock has a market capitalization of $434.61 million, a PE ratio of -17.95 and a beta of 1.03. Blend Labs, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $4.49.

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.