Millennium Management LLC Has $4.51 Million Holdings in Blend Labs, Inc. (NYSE:BLND)

Millennium Management LLC grew its holdings in Blend Labs, Inc. (NYSE:BLND - Free Report) by 212.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. PFG Advisors boosted its holdings in shares of Blend Labs by 6.3% during the 4th quarter. PFG Advisors now owns 67,762 shares of the company's stock worth $285,000 after buying an additional 3,986 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of Blend Labs by 38.1% during the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company's stock worth $76,000 after buying an additional 4,953 shares during the period. Pictet Asset Management Holding SA boosted its holdings in Blend Labs by 31.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 28,586 shares of the company's stock valued at $120,000 after purchasing an additional 6,763 shares during the period. Next Century Growth Investors LLC boosted its holdings in Blend Labs by 0.5% in the 4th quarter. Next Century Growth Investors LLC now owns 1,497,871 shares of the company's stock valued at $6,306,000 after purchasing an additional 7,068 shares during the period. Finally, JPL Wealth Management LLC bought a new stake in Blend Labs in the 4th quarter valued at $42,000. 52.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLND has been the subject of a number of research reports. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. The Goldman Sachs Group dropped 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 dropped 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. Keefe, Bruyette & Woods increased 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. Finally, UBS Group dropped their price objective on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, February 28th. Two investment 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.90.

Blend Labs Trading Up 2.5%

Shares of Blend Labs stock traded up $0.09 during mid-day trading on Friday, reaching $3.69. 2,828,514 shares of the stock were exchanged, compared to its average volume of 3,013,484. The company has a market cap of $958.15 million, a price-to-earnings ratio of -10.85 and a beta of 1.29. The firm has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $3.85. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53.

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.