Proem Advisors LLC Invests $1.15 Million in Blend Labs, Inc. $BLND

Proem Advisors LLC acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 314,765 shares of the company’s stock, valued at approximately $1,149,000. Blend Labs comprises 0.1% of Proem Advisors LLC’s portfolio, making the stock its 28th biggest holding. Proem Advisors LLC owned 0.12% of Blend Labs at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rice Hall James & Associates LLC purchased a new position in shares of Blend Labs in the third quarter worth approximately $3,043,000. Perigon Wealth Management LLC purchased a new stake in shares of Blend Labs in the 2nd quarter worth $1,712,000. Panagora Asset Management Inc. bought a new position in Blend Labs in the 2nd quarter worth $2,466,000. Mount Lucas Management LP bought a new position in shares of Blend Labs during the 2nd quarter valued at approximately $660,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Blend Labs by 110.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 40,070 shares of the company’s stock worth $141,000 after acquiring an additional 21,035 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLND has been the subject of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and set a $5.25 price target on shares of Blend Labs in a research note on Tuesday, October 28th. Wall Street Zen raised shares of Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday. Finally, UBS Group decreased their target price on Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.80.

Insider Buying and Selling

In other 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 value of $76,500.00. Following the completion of the sale, the insider directly owned 649,824 shares in the company, valued at $1,988,461.44. The trade was a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 35.52% of the company’s stock.

Blend Labs Price Performance

Shares of BLND stock opened at $2.91 on Friday. The business has a fifty day moving average of $3.08 and a 200 day moving average of $3.35. The firm has a market capitalization of $755.87 million, a price-to-earnings ratio of -29.10 and a beta of 1.24. Blend Labs, Inc. has a 1 year low of $2.50 and a 1 year 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.