BNP Paribas Financial Markets Purchases New Shares in Blend Labs, Inc. (NYSE:BLND)

BNP Paribas Financial Markets purchased a new stake in shares of Blend Labs, Inc. (NYSE:BLND) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 288,137 shares of the company’s stock, valued at approximately $1,213,000. BNP Paribas Financial Markets owned approximately 0.11% of Blend Labs as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Blend Labs in the fourth quarter worth $42,000. Olympiad Research LP bought a new stake in Blend Labs in the fourth quarter worth $47,000. Trellis Wealth Advisors LLC bought a new stake in Blend Labs in the fourth quarter worth $57,000. BBR Partners LLC bought a new stake in Blend Labs in the fourth quarter worth $60,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Blend Labs in the fourth quarter worth $70,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLND shares. The Goldman Sachs Group decreased their price target on Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research note on Monday, May 12th. Wells Fargo & Company decreased their price target on Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.50 to $4.00 and gave the stock a “market perform” rating in a research note on Monday. UBS Group decreased their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, February 28th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $5.25 price target on shares of Blend Labs in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.90.

Blend Labs Stock Down 0.5%

Shares of BLND opened at $3.64 on Tuesday. The business has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $3.88. The stock has a market cap of $945.17 million, a price-to-earnings ratio of -10.71 and a beta of 1.29. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

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.