Kazazian Asset Management LLC Makes New Investment in Blend Labs, Inc. $BLND

Kazazian Asset Management LLC purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) during the 4th quarter, HoldingsChannel reports. The firm purchased 385,420 shares of the company’s stock, valued at approximately $1,172,000. Blend Labs accounts for 1.2% of Kazazian Asset Management LLC’s portfolio, making the stock its 17th largest holding.

Other large investors also recently bought and sold shares of the company. Royce & Associates LP increased its holdings in Blend Labs by 73.9% during the 3rd quarter. Royce & Associates LP now owns 1,671,240 shares of the company’s stock worth $6,100,000 after purchasing an additional 709,989 shares during the period. Tudor Investment Corp ET AL increased its holdings in Blend Labs by 81.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,300,087 shares of the company’s stock worth $4,745,000 after purchasing an additional 581,622 shares during the period. Mirabella Financial Services LLP increased its holdings in Blend Labs by 64.5% during the 3rd 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 period. ShawSpring Partners LLC increased its holdings in Blend Labs by 10.4% during the 3rd quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock worth $35,918,000 after purchasing an additional 929,566 shares during the period. Finally, Cinctive Capital Management LP purchased a new stake in Blend Labs during the 3rd quarter worth about $2,339,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BLND. Citizens Jmp cut their price target on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. Canaccord Genuity Group decreased their target price on Blend Labs from $5.25 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 15th. The Goldman Sachs Group set a $3.50 price target on Blend Labs in a report on Friday, May 8th. Keefe, Bruyette & Woods dropped their price target 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 raised shares of Blend Labs from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Four equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.32.

Blend Labs Stock Performance

BLND opened at $1.47 on Monday. Blend Labs, Inc. has a one year low of $1.18 and a one year high of $4.49. The stock has a market capitalization of $354.71 million, a P/E ratio of -14.65 and a beta of 1.03. The business’s 50-day simple moving average is $1.58 and its 200-day simple moving average is $2.28.

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.