Squarepoint Ops LLC Lowers Position in Blend Labs, Inc. (NYSE:BLND)

Squarepoint Ops LLC lowered its stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,224 shares of the company's stock after selling 210,552 shares during the quarter. Squarepoint Ops LLC owned 0.07% of Blend Labs worth $742,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BLND. JPL Wealth Management LLC purchased a new position in Blend Labs in the 4th quarter worth $42,000. Balyasny Asset Management L.P. purchased a new position in shares of Blend Labs in the fourth quarter worth about $46,000. Olympiad Research LP bought a new stake in shares of Blend Labs in the 4th quarter valued at about $47,000. Trellis Wealth Advisors LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at about $57,000. Finally, BBR Partners LLC purchased a new stake in Blend Labs during the 4th quarter valued at about $60,000. 52.56% of the stock is owned by institutional investors.

Blend Labs Stock Up 0.7%

Shares of BLND traded up $0.03 during mid-day trading on Thursday, hitting $3.73. 763,032 shares of the company's stock traded hands, compared to its average volume of 2,997,869. The firm has a market capitalization of $967.24 million, a P/E ratio of -10.96 and a beta of 1.30. The business's 50-day moving average price is $3.38 and its 200-day moving average price is $3.83. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLND shares. JMP Securities reaffirmed a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a research note on Wednesday, May 28th. Keefe, Bruyette & Woods raised 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. The Goldman Sachs Group decreased their target price on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research note on Monday, May 12th. Canaccord Genuity Group reiterated a "buy" rating and set a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. Finally, UBS Group cut their price target 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4.90.

About Blend Labs

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.