267,500 Shares in Blend Labs, Inc. (NYSE:BLND) Bought by Washington Harbour Partners LP

Washington Harbour Partners LP purchased a new position in Blend Labs, Inc. (NYSE:BLND - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 267,500 shares of the company's stock, valued at approximately $1,126,000. Blend Labs accounts for about 2.1% of Washington Harbour Partners LP's investment portfolio, making the stock its 21st biggest position. Washington Harbour Partners LP owned approximately 0.10% of Blend Labs at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research note on Monday, May 19th. The Goldman Sachs Group reduced their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company reduced their price objective on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Canaccord Genuity Group restated a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research report on Monday, May 12th. Finally, UBS Group reduced their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Blend Labs presently has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Blend Labs Stock Down 1.0%

NYSE:BLND traded down $0.04 during midday trading on Friday, hitting $3.50. The company had a trading volume of 2,773,409 shares, compared to its average volume of 3,011,674. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The stock's fifty day moving average price is $3.37 and its 200-day moving average price is $3.88. The company has a market capitalization of $907.52 million, a PE ratio of -10.28 and a beta of 1.29.

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.