Merit Financial Group LLC purchased a new position in Blend Labs, Inc. (NYSE:BLND) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,597 shares of the company’s stock, valued at approximately $36,000. Other hedge funds and other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in shares of Blend Labs during the 4th quarter valued at about $42,000. Balyasny Asset Management L.P. purchased a new stake in Blend Labs during the 4th quarter valued at approximately $46,000. Olympiad Research LP purchased a new stake in Blend Labs during the 4th quarter valued at approximately $47,000. Trellis Wealth Advisors LLC purchased a new position in shares of Blend Labs in the fourth quarter valued at $57,000. Finally, BBR Partners LLC purchased a new position in shares of Blend Labs in the fourth quarter valued at $60,000. Institutional investors own 52.56% of the company’s stock. In other news, insider Nima Ghamsari sold 44,130 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $3.52, for a total value of $155,337.60. Following the completion of the transaction, the insider now owns 6,065,937 shares in the company, valued at approximately $21,352,098.24. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Blend Labs stock opened at $3.23 on Friday. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The company’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.76. The company has a market capitalization of $837.41 million, a price-to-earnings ratio of -9.49 and a beta of 1.30. A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Blend Labs from $3.50 to $4.00 and gave the stock a \"market perform\" rating in a research report on Monday, May 19th. UBS Group dropped their price target on Blend Labs from $4.00 to $3.50 and set a \"neutral\" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their price target on shares of Blend Labs from $5.60 to $4.80 and set a \"buy\" rating on the stock in a report on Monday, May 12th. JMP Securities reaffirmed a \"market outperform\" rating and set a $7.00 price objective on shares of Blend Labs in a research note on Wednesday, May 28th. Finally, Canaccord Genuity Group reaffirmed a \"buy\" rating and set a $5.25 price objective on shares of Blend Labs in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of \"Moderate Buy\" and an average price target of $4.90. Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.

10,597 Shares in Blend Labs, Inc. (NYSE:BLND) Purchased by Merit Financial Group LLC

Merit Financial Group LLC and other institutional investors purchased shares in Blend Labs, Inc., while an insider sold a portion of their holdings. The company's stock closed at $3.23, with a market cap of $837.41 million and analyst ratings reflecting mixed outlooks. Blend Labs operates cloud-based financial software solutions in the U.S.