G2 Investment Partners Management LLC lifted its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,133 shares of the company's stock after acquiring an additional 150,315 shares during the quarter. Blend Labs accounts for approximately 1.5% of G2 Investment Partners Management LLC's investment portfolio, making the stock its 29th largest holding. G2 Investment Partners Management LLC owned approximately 0.54% of Blend Labs worth $5,869,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Blend Labs by 263.1% in the 3rd quarter. Barclays PLC now owns 407,774 shares of the company's stock valued at $1,530,000 after purchasing an additional 295,460 shares during the period. Principal Financial Group Inc. lifted its position in shares of Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after purchasing an additional 2,390,337 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Blend Labs by 193.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company's stock valued at $6,431,000 after buying an additional 1,130,706 shares during the period. Franklin Resources Inc. purchased a new position in Blend Labs in the third quarter valued at $2,463,000. Finally, Swiss National Bank grew its holdings in Blend Labs by 3.5% during the 4th quarter. Swiss National Bank now owns 392,500 shares of the company's stock worth $1,652,000 after acquiring an additional 13,300 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.
Blend Labs Stock Performance
Shares of Blend Labs stock traded down $0.01 during trading on Wednesday, reaching $3.62. The company had a trading volume of 990,657 shares, compared to its average volume of 2,967,769. The firm's fifty day moving average is $3.35 and its 200-day moving average is $3.88. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The company has a market cap of $939.98 million, a price-to-earnings ratio of -10.65 and a beta of 1.29.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on BLND. Wells Fargo & Company cut their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research note on Monday. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 target price on shares of Blend Labs in a report on Monday. UBS Group reduced their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods cut their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $4.83.
View Our Latest Stock Report on BLND
Blend Labs Profile
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Free Report)
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.
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