Fintel reports that 8VC Co-Invest Fund I has filed a 13G/A form with the SEC disclosing ownership of 13.30MM shares of Blend Labs, Inc. (BLND). This represents 5.9% of the company.
In their previous filing dated February 14, 2022 they reported 11.02MM shares and 5.10% of the company, an increase in shares of 20.65% and an increase in total ownership of 0.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 19.80% Upside
As of February 8, 2023, the average one-year price target for Blend Labs is $2.48. The forecasts range from a low of $1.31 to a high of $3.15. The average price target represents an increase of 19.80% from its latest reported closing price of $2.07.
The projected annual revenue for Blend Labs is $219MM, a decrease of 20.03%. The projected annual EPS is $-0.46.
Fund Sentiment
There are 234 funds or institutions reporting positions in Blend Labs. This is an increase of 10 owner(s) or 4.46%.
Average portfolio weight of all funds dedicated to US:BLND is 0.3113%, a decrease of 12.6829%. Total shares owned by institutions increased in the last three months by 2.79% to 142,496K shares.
What are large shareholders doing?
Lightspeed Ultimate General Partner IX holds 14,818,355 shares representing 6.23% ownership of the company. No change in the last quarter.
Temasek Holdings holds 11,875,773 shares representing 5.00% ownership of the company. No change in the last quarter.
General Atlantic holds 11,433,949 shares representing 4.81% ownership of the company. No change in the last quarter.
Greylock 15 GP holds 10,034,191 shares representing 4.22% ownership of the company. No change in the last quarter.
ShawSpring Partners holds 9,366,675 shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 8,534,033 shares, representing an increase of 8.89%. The firm decreased its portfolio allocation in BLND by 19.43% over the last quarter.
Blend Labs Background Information
(This description is provided by the company.)
Blend’s cloud-based software platform is designed to power the end-to-end consumer journey for any banking product from application to close. Its technology is used by Wells Fargo, U.S. Bank, and over 290 other financial services firms to acquire more customers, increase productivity, and deepen relationships. Through its software, Blend enables its customers to process an average of more than $5 billion in loans per day, helping consumers get into homes and gain access to the capital they need to lead better lives.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
