Sherbrooke Park Advisers LLC Makes New $271,000 Investment in Blend Labs, Inc. (NYSE:BLND)

Sherbrooke Park Advisers LLC bought a new position in shares of Blend Labs, Inc. (NYSE:BLND) during the fourth quarter, Holdings Channel reports. The fund bought 64,417 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of Blend Labs by 697.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after purchasing an additional 2,390,337 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at $132,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Blend Labs in the 4th quarter valued at $114,000. Caprock Group LLC boosted its stake in shares of Blend Labs by 142.5% in the 4th quarter. Caprock Group LLC now owns 75,032 shares of the company’s stock valued at $316,000 after purchasing an additional 44,096 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in shares of Blend Labs by 3.6% in the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,366 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Blend Labs Trading Down 0.5%

BLND opened at $3.64 on Tuesday. The company’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $3.88. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The company has a market cap of $945.17 million, a price-to-earnings ratio of -10.71 and a beta of 1.29.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BLND. The Goldman Sachs Group dropped their target price on shares of Blend Labs from $5.60 to $4.80 and set a “buy” rating on the stock in a research report on Monday, May 12th. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.50 to $4.00 and gave the company a “market perform” rating in a research report on Monday. Canaccord Genuity Group reiterated a “buy” rating and set a $5.25 target price on shares of Blend Labs in a research report on Monday, May 12th. UBS Group dropped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Blend Labs currently has an average rating of “Moderate Buy” and an average target price of $4.90.

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.