Algert Global LLC Invests $305,000 in Blend Labs, Inc. (NYSE:BLND)

Algert Global LLC purchased a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 72,475 shares of the company's stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BLND. JPL Wealth Management LLC acquired a new stake in Blend Labs during the 4th quarter worth about $42,000. Olympiad Research LP acquired a new position in shares of Blend Labs in the 4th quarter valued at about $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at about $57,000. BBR Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at about $60,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Blend Labs in the 4th quarter valued at about $70,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLND has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. Keefe, Bruyette & Woods dropped their price objective on Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. UBS Group dropped their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, February 28th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.83.

Blend Labs Trading Up 0.7%

Blend Labs stock traded up $0.03 during trading hours on Friday, reaching $3.67. 1,811,348 shares of the company were exchanged, compared to its average volume of 2,984,737. The firm has a market cap of $951.66 million, a price-to-earnings ratio of -10.78 and a beta of 1.29. The stock has a 50-day moving average of $3.38 and a 200 day moving average of $3.88. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53.

About Blend Labs

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.