Arrowstreet Capital Limited Partnership Makes New $5.72 Million Investment in Blend Labs, Inc. (NYSE:BLND)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,359,047 shares of the company's stock, valued at approximately $5,722,000. Arrowstreet Capital Limited Partnership owned approximately 0.53% of Blend Labs as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Blend Labs by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company's stock valued at $6,161,000 after buying an additional 120,152 shares during the last quarter. FMR LLC raised its position in shares of Blend Labs by 15.8% in the 3rd quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after purchasing an additional 3,576 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Blend Labs in the 3rd quarter worth approximately $231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Blend Labs during the 3rd quarter worth approximately $676,000. Finally, Janus Henderson Group PLC acquired a new position in Blend Labs during the 3rd quarter valued at approximately $320,000. Hedge funds and other institutional investors 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 stock. Canaccord Genuity Group dropped their price objective on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods reduced their price objective on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. JMP Securities assumed coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 target price on the stock. Citizens Jmp raised shares of Blend Labs to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, UBS Group decreased their price objective 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. 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.91.

Insiders Place Their Bets

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00. Following the transaction, the insider now directly owns 836,759 shares of the company's stock, valued at $2,853,348.19. This trade represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 90,000 shares of company stock worth $321,900. 13.21% of the stock is owned by corporate insiders.

Blend Labs Stock Down 1.5 %

Shares of BLND stock traded down $0.05 during mid-day trading on Friday, hitting $3.06. 4,002,312 shares of the stock were exchanged, compared to its average volume of 2,907,534. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The firm has a fifty day moving average of $3.52 and a 200 day moving average of $3.93. The company has a market cap of $793.27 million, a PE ratio of -8.99 and a beta of 1.29.

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.