Voloridge Investment Management LLC Invests $1.28 Million in Blend Labs, Inc. (NYSE:BLND)

Voloridge Investment Management LLC bought a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 303,545 shares of the company's stock, valued at approximately $1,278,000. Voloridge Investment Management LLC owned approximately 0.12% of Blend Labs at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLND. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs during the 4th quarter valued at about $42,000. Balyasny Asset Management L.P. acquired a new position in Blend Labs in the fourth quarter worth approximately $46,000. Olympiad Research LP bought a new position in Blend Labs during the fourth quarter valued at approximately $47,000. Trellis Wealth Advisors LLC acquired a new stake in Blend Labs in the fourth quarter valued at approximately $57,000. Finally, BBR Partners LLC bought a new stake in Blend Labs in the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Blend Labs Trading Down 0.7%

Blend Labs stock traded down $0.03 on Monday, reaching $3.64. 2,007,873 shares of the stock were exchanged, compared to its average volume of 3,009,459. The stock has a market cap of $943.87 million, a PE ratio of -10.69 and a beta of 1.29. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The firm has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $3.83.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group cut their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company lowered their target price on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Canaccord Genuity Group restated a "buy" rating and set a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their price objective on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Blend Labs presently has an average rating of "Moderate Buy" and an average target price of $4.90.

Blend Labs 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.