Two Sigma Investments LP Purchases 844,962 Shares of Blend Labs, Inc. (NYSE:BLND)

Two Sigma Investments LP boosted its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 62.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,203,500 shares of the company's stock after buying an additional 844,962 shares during the quarter. Two Sigma Investments LP owned approximately 0.86% of Blend Labs worth $9,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in shares of Blend Labs during the 4th quarter worth approximately $42,000. Balyasny Asset Management L.P. bought a new position in Blend Labs during the fourth quarter worth $46,000. Olympiad Research LP acquired a new position in shares of Blend Labs in the fourth quarter valued at $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at $57,000. Finally, BBR Partners LLC bought a new position in shares of Blend Labs in the fourth quarter valued at about $60,000. Institutional investors own 52.56% of the company's stock.

Blend Labs Price Performance

NYSE:BLND traded up $0.06 during trading hours on Friday, reaching $3.66. 524,870 shares of the company were exchanged, compared to its average volume of 3,011,969. The business has a 50 day moving average of $3.37 and a 200 day moving average of $3.85. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The company has a market capitalization of $949.06 million, a P/E ratio of -10.81 and a beta of 1.29.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BLND. Canaccord Genuity Group reiterated a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a research note on Monday, May 12th. Keefe, Bruyette & Woods boosted 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. The Goldman Sachs Group lowered their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research note on Monday, May 12th. JMP Securities restated a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price objective on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Blend Labs currently has an average rating of "Moderate Buy" and a consensus target price of $4.90.

Blend Labs 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.