Blend Labs, Inc. (NYSE:BLND) Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC raised its holdings in shares of Blend Labs, Inc. (NYSE:BLND) by 61.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,639 shares of the company’s stock after purchasing an additional 52,779 shares during the quarter. Gotham Asset Management LLC owned 0.05% of Blend Labs worth $584,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. UBS Group lowered 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 note on Friday, February 28th. Keefe, Bruyette & Woods dropped their target price on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company decreased their price target on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research report on Monday, May 12th. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.83.

Blend Labs Price Performance

Shares of NYSE BLND opened at $3.67 on Monday. The firm has a market capitalization of $951.66 million, a PE ratio of -10.78 and a beta of 1.29. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The business’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $3.88.

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.