Kazazian Asset Management LLC Invests $1.17 Million in Blend Labs, Inc. $BLND

Kazazian Asset Management LLC purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 investment portfolio, making the stock its 17th biggest holding. Kazazian Asset Management LLC owned about 0.15% of Blend Labs as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BLND. Revolve Wealth Partners LLC purchased a new position in shares of Blend Labs during the 4th quarter worth $132,000. AQR Capital Management LLC grew its holdings in shares of Blend Labs by 32.2% during the 1st quarter. AQR Capital Management LLC now owns 883,296 shares of the company’s stock worth $2,959,000 after purchasing an additional 214,998 shares during the period. Creative Planning grew its holdings in shares of Blend Labs by 81.4% during the 2nd quarter. Creative Planning now owns 34,036 shares of the company’s stock worth $112,000 after purchasing an additional 15,276 shares during the period. Legal & General Group Plc grew its holdings in shares of Blend Labs by 18.4% during the 2nd quarter. Legal & General Group Plc now owns 241,030 shares of the company’s stock worth $795,000 after purchasing an additional 37,373 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Blend Labs by 587.0% during the 2nd quarter. Prudential Financial Inc. now owns 123,220 shares of the company’s stock worth $407,000 after purchasing an additional 105,285 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Blend Labs Trading Down 0.3%

BLND opened at $1.47 on Monday. The stock’s 50-day moving average price is $1.58 and its 200 day moving average price is $2.28. 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 $354.71 million, a price-to-earnings ratio of -14.65 and a beta of 1.03.

Analyst Ratings Changes

A number of research firms have recently weighed in on BLND. The Goldman Sachs Group set a $3.50 price target on Blend Labs in a report on Friday, May 8th. Citizens Jmp lowered their price target on Blend Labs from $5.00 to $4.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods decreased their target price on 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 Blend Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.