Proem Advisors LLC Makes New Investment in Blend Labs, Inc. $BLND

Proem Advisors LLC acquired a new stake in Blend Labs, Inc. (NYSE:BLND) in the third quarter, Holdings Channel reports. The firm acquired 314,765 shares of the company’s stock, valued at approximately $1,149,000. Blend Labs accounts for approximately 0.1% of Proem Advisors LLC’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP lifted its holdings in Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after buying an additional 1,543,220 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Blend Labs in the 3rd quarter valued at $3,043,000. Panagora Asset Management Inc. purchased a new stake in shares of Blend Labs in the second quarter valued at about $2,466,000. AQR Capital Management LLC lifted its position in Blend Labs by 84.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,629,509 shares of the company’s stock worth $5,377,000 after acquiring an additional 746,213 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Blend Labs during the second quarter worth $1,712,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLND. Wall Street Zen raised Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a research note on Tuesday, October 28th. Finally, UBS Group cut their price objective on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.80.

Insider Transactions at Blend Labs

In related news, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $3.06, for a total transaction of $76,500.00. Following the sale, the insider owned 649,824 shares of the company’s stock, valued at $1,988,461.44. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 35.52% of the stock is owned by corporate insiders.

Blend Labs Price Performance

NYSE:BLND opened at $2.91 on Friday. The business has a 50 day simple moving average of $3.08 and a 200 day simple moving average of $3.35. The firm has a market capitalization of $755.87 million, a P/E ratio of -29.10 and a beta of 1.24. Blend Labs, Inc. has a 12-month low of $2.50 and a 12-month 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.