EdgePoint Investment Group Inc. Has $10.90 Million Position in Blend Labs, Inc. (NYSE:BLND)

EdgePoint Investment Group Inc. cut its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,589,412 shares of the company's stock after selling 875,585 shares during the period. EdgePoint Investment Group Inc. owned 1.01% of Blend Labs worth $10,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. JPL Wealth Management LLC acquired a new position in Blend Labs during the fourth quarter valued at approximately $42,000. Balyasny Asset Management L.P. bought a new position in shares of Blend Labs during the 4th quarter valued at about $46,000. Olympiad Research LP acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $47,000. Trellis Wealth Advisors LLC bought a new stake in shares of Blend Labs during the fourth quarter worth $57,000. Finally, BBR Partners LLC bought a new stake in Blend Labs in the 4th quarter valued at $60,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Stock Down 0.3%

Shares of NYSE:BLND traded down $0.01 during midday trading on Wednesday, hitting $3.62. The stock had a trading volume of 990,657 shares, compared to its average volume of 2,967,769. The company's 50-day moving average price is $3.35 and its 200-day moving average price 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 capitalization of $939.98 million, a P/E ratio of -10.65 and a beta of 1.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday. Canaccord Genuity Group restated a "buy" rating and issued a $5.25 price objective on shares of Blend Labs in a report on Monday. UBS Group dropped their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered their price target 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.83.

Blend Labs Company Profile

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.