Edgepoint Investment Group, Inc. has recently announced that it has increased stake in Blend Labs Inc (NYSE:BLND) by 0.74%. After grabbing 12.3 million shares, the institutional investor is now in possession of 90309.0 shares of the Technology Company. The new investment brought the stake of investor firm to 5.16% having worth around $15.62 million. Moreover, J. Goldman & Co. LP increased its share by 1.03 million to have a control over 3.88 million shares. And Metavasi Capital LP raised its holdings to 0.55 million shares by acquiring 3.01 million shares or 1.26% of the stake.
Blend Labs Inc (BLND) concluded trading on 12/21/23 at a closing price of $2.24, with 1.67 million shares of worth about $3.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 160.47% during that period and on Thursday the price saw a gain of about 1.36%. Currently the company’s common shares owned by public are about 230.21M shares, out of which, 176.70M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 1,256,042 shares in 19 of the transactions. In 19 selling transactions, insiders dumped 1,127,650 shares.
Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Fidelity Advisor Series I – Stock are the top 3 mutual funds which are holding stakes in Blend Labs Inc Vanguard Total Stock Market ETF is currently holding 6.43 million shares of worth totaling $8.17 million. The company recently came buying 0.0 shares which brought its stake up to 2.70% of the company’s outstanding shares. Fidelity Advisor Series I – Stock, after buying 1.38 million shares, have now control over 0.58% of the stake in the company. It holds 0.0 shares of worth $1.75 million.
Blend Labs Inc (NYSE: BLND) started trading at $2.23, above $0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 2.3100, or with a gain of 1.36%. Stock saw a price change of 6.67% in past 5 days and over the past one month there was a price change of 86.67%. Year-to-date (YTD), BLND shares are showing a performance of 55.56% which increased to 83.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.53 but also hit the highest price of $2.55 during that period. The average intraday trading volume for Blend Labs Inc shares is 840.69K. The stock is currently trading 34.78% above its 20-day simple moving average (SMA20), while that difference is up 56.88% for SMA50 and it goes to 93.09% higher than SMA200.
Edgepoint Investment Group, Inc. acquired 12.3 million shares of Blend Labs Inc having value of about $15.62 million. Data submitted at the U.S SEC by Edgepoint Investment Group, Inc. revealed that the firm now holds 90309.0 shares in the company valued at close to $202292.16, or have control over 0.74% stake in the company. Blend Labs Inc (NYSE: BLND) currently have 230.21M outstanding shares and institutions hold larger chunk of about 25.91% of that. Holding of mutual funds in the company is about 21.00% while other institutional holders and individual stake holders have control over 5.98% and 14.90% of the stake respectively.
The stock has a current market capitalization of $555.97M and its 3Y-monthly beta is at 0.72. It has posted earnings per share of -$0.98 in the same period. It has Quick Ratio of 7.66 while making debt-to-equity ratio of 36.79. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BLND, volatility over the week remained 9.27% while standing at 9.48% over the month.
Analysts are in expectations that Blend Labs Inc (BLND) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is -$0.07 and it is -$0.21 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.21 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 47.30% while it is estimated to increase by 47.81% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Blend Labs Inc (BLND)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.43. Out of those 7 Wall Street analysts, 2 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 20, 2023 offering an Overweight rating for the stock and assigned a target price range of between $1.50 and $3.50 to it.
