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

Voloridge Investment Management LLC purchased a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 303,545 shares of the company's stock, valued at approximately $1,278,000. Voloridge Investment Management LLC owned 0.12% of Blend Labs as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLND. The Goldman Sachs Group dropped their price target 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, May 12th. Wells Fargo & Company dropped their price target on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods raised their target price on shares of Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a research report on Monday, May 19th. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research report on Monday, May 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $7.00 price target on shares of Blend Labs in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Blend Labs Stock Performance

BLND stock traded up $0.09 during trading on Friday, reaching $3.69. The company had a trading volume of 2,828,514 shares, compared to its average volume of 3,028,716. The firm has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.85. The company has a market cap of $958.15 million, a price-to-earnings ratio of -10.85 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.

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.