XTX Topco Ltd Has $859,000 Holdings in Blend Labs, Inc. (NYSE:BLND)

XTX Topco Ltd boosted its stake in Blend Labs, Inc. (NYSE:BLND - Free Report) by 247.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,955 shares of the company's stock after buying an additional 145,211 shares during the quarter. XTX Topco Ltd owned approximately 0.08% of Blend Labs worth $859,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs during the 4th quarter valued at about $42,000. Olympiad Research LP acquired a new stake in shares of Blend Labs in the fourth quarter valued at about $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs during the 4th quarter worth about $57,000. BBR Partners LLC bought a new stake in Blend Labs during the 4th quarter valued at approximately $60,000. Finally, Landscape Capital Management L.L.C. bought a new position in Blend Labs in the 4th quarter worth approximately $70,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Price Performance

NYSE:BLND traded up $0.05 during trading hours on Tuesday, hitting $3.09. The company's stock had a trading volume of 166,280 shares, compared to its average volume of 3,437,232. The company has a market capitalization of $801.06 million, a P/E ratio of -9.07 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. The stock has a fifty day simple moving average of $3.42 and a 200-day simple moving average of $3.91.

Insider Activity at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now directly owns 776,759 shares of the company's stock, valued at $2,897,311.07. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BLND has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their target price on Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a research report on Friday, February 28th. UBS Group reduced their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company dropped 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. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Blend Labs presently has a consensus rating of "Moderate Buy" and an average price target of $4.70.

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.