BNP Paribas Financial Markets Makes New Investment in Blend Labs, Inc. (NYSE:BLND)

BNP Paribas Financial Markets purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 288,137 shares of the company's stock, valued at approximately $1,213,000. BNP Paribas Financial Markets owned about 0.11% of Blend Labs as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at $305,000. Metavasi Capital LP increased its stake in shares of Blend Labs by 6.4% in the 4th quarter. Metavasi Capital LP now owns 4,804,101 shares of the company's stock valued at $20,225,000 after acquiring an additional 290,623 shares in the last quarter. Voleon Capital Management LP acquired a new stake in Blend Labs in the 4th quarter valued at $207,000. Northern Trust Corp grew its position in Blend Labs by 16.2% in the 4th quarter. Northern Trust Corp now owns 2,212,460 shares of the company's stock valued at $9,314,000 after purchasing an additional 309,067 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Blend Labs in the 4th quarter valued at $508,000. Institutional investors own 52.56% of the company's stock.

Blend Labs Stock Performance

BLND stock traded up $0.06 on Thursday, reaching $3.53. The company's stock had a trading volume of 3,526,217 shares, compared to its average volume of 2,999,129. The business has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.88. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53. The firm has a market cap of $915.31 million, a PE ratio of -10.37 and a beta of 1.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday. Wells Fargo & Company cut their price objective on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. UBS Group cut their price objective 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. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.90.

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.