Squarepoint Ops LLC Grows Stock Holdings in Blend Labs, Inc. (NYSE:BLND)

Squarepoint Ops LLC increased its stake in Blend Labs, Inc. (NYSE:BLND) by 253.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 523,094 shares of the company’s stock after purchasing an additional 375,233 shares during the quarter. Squarepoint Ops LLC owned 0.21% of Blend Labs worth $1,235,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BLND. Berylson Capital Partners LLC bought a new position in Blend Labs in the fourth quarter valued at about $52,000. G2 Investment Partners Management LLC bought a new position in shares of Blend Labs in the 4th quarter worth approximately $956,000. EP Wealth Advisors LLC boosted its holdings in shares of Blend Labs by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock worth $464,000 after buying an additional 11,448 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Blend Labs during the first quarter valued at approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Blend Labs by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock valued at $947,000 after buying an additional 38,479 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Insider Buying and Selling at Blend Labs

In other news, insider Winnie Ling sold 10,000 shares of Blend Labs stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the sale, the insider now directly owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 34,303 shares of company stock valued at $124,326 in the last 90 days. Insiders own 11.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BLND. The Goldman Sachs Group lifted their price target on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.00 to $4.75 in a report on Monday, August 12th. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price objective on Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.75 in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Blend Labs has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Blend Labs Trading Down 0.8 %

Shares of BLND opened at $3.62 on Friday. Blend Labs, Inc. has a 12-month low of $1.14 and a 12-month high of $4.25. The company has a market capitalization of $913.61 million, a PE ratio of -6.24 and a beta of 1.15. The business’s 50 day moving average is $3.54 and its 200 day moving average is $3.01.

Blend Labs (NYSE:BLND) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. The firm had revenue of $40.48 million for the quarter, compared to the consensus estimate of $39.50 million. Equities research analysts predict that Blend Labs, Inc. will post -0.27 earnings per share for the current year.

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.