Blend Labs, Inc. (NYSE:BLND) Shares Sold by J. Goldman & Co LP

J. Goldman & Co LP reduced its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,701,691 shares of the company's stock after selling 816,996 shares during the quarter. J. Goldman & Co LP owned about 1.06% of Blend Labs worth $11,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLND. 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. purchased a new stake in Blend Labs in the 4th quarter valued at $46,000. Olympiad Research LP purchased a new stake in Blend Labs in the 4th quarter valued at $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs during the 4th quarter valued at about $57,000. Finally, BBR Partners LLC acquired a new position in shares of Blend Labs during the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Blend Labs Stock Up 0.7%

Shares of BLND traded up $0.03 during trading on Friday, reaching $3.67. 1,811,348 shares of the company traded hands, compared to its average volume of 2,974,111. The stock has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.88. The stock has a market cap of $951.66 million, a PE ratio of -10.78 and a beta of 1.29. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLND shares. Wells Fargo & Company cut 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 report on Tuesday, April 22nd. The Goldman Sachs Group cut their price target on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a report on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research report on Monday. UBS Group lowered their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods cut their target price on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Blend Labs presently has a consensus rating of "Moderate Buy" and an average target price of $4.83.

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.