Whitebark Investors LP Makes New Investment in Blend Labs, Inc. (NYSE:BLND)

Whitebark Investors LP acquired a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,587,799 shares of the company's stock, valued at approximately $10,895,000. Blend Labs makes up 5.0% of Whitebark Investors LP's holdings, making the stock its 6th biggest holding. Whitebark Investors LP owned 1.01% of Blend Labs as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. 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 report on Monday. Wells Fargo & Company lowered their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group restated a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a research report on Monday, May 12th. Finally, The Goldman Sachs Group reduced their price objective on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.90.

Blend Labs Stock Down 0.5%

NYSE:BLND opened at $3.64 on Tuesday. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The stock's fifty day moving average is $3.37 and its two-hundred day moving average is $3.88. The company has a market capitalization of $945.17 million, a P/E ratio of -10.71 and a beta of 1.29.

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.

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