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Millennium Management LLC Purchases 728,533 Shares of Blend Labs, Inc. (NYSE:BLND)

Blend Labs logo with Computer and Technology background

Millennium Management LLC boosted its stake in Blend Labs, Inc. (NYSE:BLND - Free Report) by 212.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,070,922 shares of the company's stock after acquiring an additional 728,533 shares during the period. Millennium Management LLC owned 0.42% of Blend Labs worth $4,509,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Blend Labs by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 319,752 shares of the company's stock valued at $1,346,000 after acquiring an additional 10,307 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Blend Labs in the fourth quarter valued at $94,000. Lightspeed Management Company L.L.C. acquired a new stake in Blend Labs in the fourth quarter valued at $97,366,000. Gotham Asset Management LLC raised its holdings in Blend Labs by 61.5% in the fourth quarter. Gotham Asset Management LLC now owns 138,639 shares of the company's stock valued at $584,000 after acquiring an additional 52,779 shares in the last quarter. Finally, G2 Investment Partners Management LLC raised its holdings in Blend Labs by 12.1% in the fourth quarter. G2 Investment Partners Management LLC now owns 1,394,133 shares of the company's stock valued at $5,869,000 after acquiring an additional 150,315 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLND has been the topic of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods increased their target price on shares of Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday, May 19th. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. UBS Group dropped their target price 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, Wells Fargo & Company dropped their target price 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Blend Labs currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.90.

Check Out Our Latest Research Report on Blend Labs

Blend Labs Stock Up 1.3%

BLND stock traded up $0.05 during midday trading on Tuesday, hitting $3.69. 1,703,827 shares of the company traded hands, compared to its average volume of 3,005,806. The business has a 50 day simple moving average of $3.37 and a 200-day simple moving average of $3.83. The stock has a market capitalization of $957.63 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 Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blend Labs (NYSE:BLND)

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