Whetstone Capital Advisors LLC Purchases Shares of 1,171,079 Blend Labs, Inc. $BLND

Whetstone Capital Advisors LLC purchased a new stake in shares of Blend Labs, Inc. (NYSE:BLND) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,171,079 shares of the company’s stock, valued at approximately $3,560,000. Blend Labs accounts for 1.1% of Whetstone Capital Advisors LLC’s holdings, making the stock its 19th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. ShawSpring Partners LLC boosted its position in Blend Labs by 10.4% during the third quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock valued at $35,918,000 after buying an additional 929,566 shares during the period. State Street Corp boosted its position in Blend Labs by 2.0% during the fourth quarter. State Street Corp now owns 5,660,693 shares of the company’s stock valued at $17,209,000 after buying an additional 112,330 shares during the period. Whitebark Investors LP boosted its position in Blend Labs by 14.7% during the third quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock valued at $20,317,000 after buying an additional 712,315 shares during the period. Mirabella Financial Services LLP grew its stake in shares of Blend Labs by 64.5% in the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock worth $9,650,000 after purchasing an additional 1,036,777 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Blend Labs by 157.6% in the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after purchasing an additional 1,543,220 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Blend Labs Price Performance

NYSE BLND opened at $1.71 on Monday. Blend Labs, Inc. has a 1 year low of $1.18 and a 1 year high of $4.49. The business’s 50-day moving average is $1.58 and its 200 day moving average is $2.13. The stock has a market capitalization of $412.81 million, a PE ratio of -17.05 and a beta of 1.09.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings cut Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Citigroup reissued an “outperform” rating on shares of Blend Labs in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on Blend Labs from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 11th. Canaccord Genuity Group cut their target price on Blend Labs from $5.25 to $4.50 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, UBS Group cut their target price on Blend Labs from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.32.

Blend Labs 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.