Point72 Asset Management L.P. Invests $1.32 Million in Blend Labs, Inc. (NYSE:BLND)

Point72 Asset Management L.P. bought a new stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 313,205 shares of the company's stock, valued at approximately $1,319,000. Point72 Asset Management L.P. owned approximately 0.12% of Blend Labs at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Lightspeed Management Company L.L.C. bought a new stake in shares of Blend Labs in the 4th quarter valued at approximately $97,366,000. Vanguard Group Inc. grew its stake in shares of Blend Labs by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock valued at $70,776,000 after buying an additional 388,583 shares in the last quarter. ShawSpring Partners LLC grew its stake in shares of Blend Labs by 6.8% in the 4th quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company's stock valued at $29,803,000 after buying an additional 449,175 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Blend Labs by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company's stock valued at $20,391,000 after buying an additional 75,379 shares in the last quarter. Finally, Metavasi Capital LP grew 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 buying an additional 290,623 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BLND shares. Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research note on Monday, May 19th. Wells Fargo & Company lowered their price target on Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group lowered their price target on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. UBS Group lowered their price target on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, February 28th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research report on Monday, May 12th. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.90.

Blend Labs Trading Up 0.7%

Blend Labs stock traded up $0.03 during trading hours on Tuesday, reaching $3.51. 203,602 shares of the company were exchanged, compared to its average volume of 3,000,630. The firm has a market cap of $910.12 million, a price-to-earnings ratio of -10.28 and a beta of 1.29. The stock has a 50-day moving average of $3.37 and a 200 day moving average of $3.86. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month 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.