Squarepoint Ops LLC Raises Stock Position in Blend Labs, Inc. $BLND

Squarepoint Ops LLC raised its holdings in Blend Labs, Inc. (NYSE:BLND) by 193.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 423,685 shares of the company’s stock after acquiring an additional 279,129 shares during the period. Squarepoint Ops LLC’s holdings in Blend Labs were worth $1,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in shares of Blend Labs by 157.6% in the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock valued at $8,323,000 after buying an additional 1,543,220 shares during the period. Vanguard Group Inc. raised its position in Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company’s stock valued at $58,915,000 after acquiring an additional 775,091 shares in the last quarter. Metavasi Capital LP lifted its holdings in Blend Labs by 15.6% in the first quarter. Metavasi Capital LP now owns 5,554,101 shares of the company’s stock valued at $18,606,000 after acquiring an additional 750,000 shares during the period. Panagora Asset Management Inc. purchased a new stake in Blend Labs in the 2nd quarter worth approximately $2,466,000. Finally, AQR Capital Management LLC grew its stake in shares of Blend Labs by 84.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,629,509 shares of the company’s stock worth $5,377,000 after purchasing an additional 746,213 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Stock Up 0.7%

Shares of NYSE BLND opened at $3.08 on Friday. The firm has a market cap of $800.03 million, a price-to-earnings ratio of -30.80 and a beta of 1.23. The company’s 50-day simple moving average is $3.18 and its 200-day simple moving average is $3.41. Blend Labs, Inc. has a 52-week low of $2.50 and a 52-week high of $4.55.

Insider Transactions at Blend Labs

In other Blend Labs news, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the sale, the insider directly owned 687,909 shares in the company, valued at approximately $2,297,616.06. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 35.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BLND shares. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, October 8th. UBS Group lowered their target price on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. 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 Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.80.

Blend Labs Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.