Squarepoint Ops LLC Sells 210,552 Shares of Blend Labs, Inc. (NYSE:BLND)

Squarepoint Ops LLC lessened its position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 54.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,224 shares of the company's stock after selling 210,552 shares during the period. Squarepoint Ops LLC owned 0.07% of Blend Labs worth $742,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. purchased a new position in shares of Blend Labs in the fourth quarter worth about $97,366,000. Mirabella Financial Services LLP bought a new stake in Blend Labs during the 4th quarter valued at $6,765,000. Invesco Ltd. lifted its position in shares of Blend Labs by 1,230.9% during the fourth quarter. Invesco Ltd. now owns 1,576,347 shares of the company's stock worth $6,636,000 after acquiring an additional 1,457,901 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Blend Labs in the fourth quarter worth $5,722,000. Finally, Deutsche Bank AG grew its position in shares of Blend Labs by 748.2% in the fourth quarter. Deutsche Bank AG now owns 1,203,511 shares of the company's stock valued at $5,067,000 after purchasing an additional 1,061,621 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

BLND has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday, May 19th. UBS Group decreased their price target on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price target 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. Wells Fargo & Company reduced 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. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 target price 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Blend Labs Trading Up 0.8%

Shares of BLND traded up $0.03 during trading hours on Friday, reaching $3.75. 1,605,850 shares of the company's stock traded hands, compared to its average volume of 3,006,628. The stock has a market cap of $973.73 million, a PE ratio of -11.03 and a beta of 1.30. The firm's 50 day simple moving average is $3.39 and its 200-day simple moving average is $3.82. 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.