6,499,507 Shares in Blend Labs, Inc. $BLND Acquired by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,499,507 shares of the company’s stock, valued at approximately $11,049,000. Blend Labs comprises 1.7% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors have also modified their holdings of BLND. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Blend Labs during the third quarter valued at $32,000. Captrust Financial Advisors acquired a new position in Blend Labs in the second quarter valued at approximately $35,000. South Shore Capital Advisors purchased a new stake in Blend Labs in the 4th quarter worth approximately $36,000. Jump Financial LLC purchased a new stake in Blend Labs in the 2nd quarter worth approximately $38,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Blend Labs during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLND. 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 note on Wednesday, March 11th. Canaccord Genuity Group dropped their price target on shares of Blend Labs from $5.25 to $4.50 and set a “buy” rating on the stock in a research report on Friday, May 15th. Citigroup reiterated an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. Keefe, Bruyette & Woods lowered their target price on shares of Blend Labs from $2.25 to $1.90 and set a “market perform” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings lowered Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.32.

Blend Labs Trading Up 1.5%

NYSE:BLND opened at $1.72 on Wednesday. The stock has a 50 day moving average of $1.59 and a two-hundred day moving average of $2.01. Blend Labs, Inc. has a 12 month low of $1.18 and a 12 month high of $4.49. The firm has a market cap of $415.24 million, a P/E ratio of -17.15 and a beta of 1.09.

Blend Labs Company Profile

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.