Main Management ETF Advisors LLC Trims Stock Position in Blend Labs, Inc. (NYSE:BLND)

Main Management ETF Advisors LLC lessened its stake in Blend Labs, Inc. (NYSE:BLND) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,200 shares of the company’s stock after selling 22,400 shares during the period. Main Management ETF Advisors LLC owned 0.10% of Blend Labs worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Numerai GP LLC acquired a new stake in shares of Blend Labs in the 4th quarter valued at about $98,000. OMERS ADMINISTRATION Corp purchased a new stake in Blend Labs in the fourth quarter valued at approximately $241,000. Millennium Management LLC lifted its stake in Blend Labs by 212.8% in the fourth quarter. Millennium Management LLC now owns 1,070,922 shares of the company’s stock valued at $4,509,000 after buying an additional 728,533 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Blend Labs by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 319,752 shares of the company’s stock valued at $1,346,000 after acquiring an additional 10,307 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Blend Labs during the fourth quarter worth approximately $94,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BLND. The Goldman Sachs Group reduced their price target 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. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of 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 lowered their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 price objective on shares of Blend Labs in a research note on Monday. Two 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. Based on data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and a consensus target price of $4.83.

Blend Labs Stock Performance

BLND stock opened at $3.63 on Wednesday. The stock has a market capitalization of $942.57 million, a PE ratio of -10.68 and a beta of 1.29. The company has a fifty day moving average of $3.35 and a 200-day moving average of $3.88. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53.

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.