Hsbc Holdings PLC Has $207,000 Stake in Blend Labs, Inc. (NYSE:BLND)

Hsbc Holdings PLC lifted its holdings in Blend Labs, Inc. (NYSE:BLND) by 75.2% during the 4th quarter, Holdings Channel reports. The fund owned 48,414 shares of the company’s stock after acquiring an additional 20,780 shares during the quarter. Hsbc Holdings PLC’s holdings in Blend Labs were worth $207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in shares of Blend Labs during the fourth quarter worth $42,000. Olympiad Research LP bought a new position in shares of Blend Labs in the fourth quarter worth about $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs during the fourth quarter worth approximately $57,000. BBR Partners LLC bought a new stake in shares of Blend Labs during the fourth quarter valued at approximately $60,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Blend Labs in the fourth quarter valued at approximately $70,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $3.53 on Friday. The company has a 50 day moving average price of $3.33 and a two-hundred day moving average price of $3.88. The company has a market capitalization of $916.61 million, a PE ratio of -10.38 and a beta of 1.29. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price objective on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price target on Blend Labs from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group cut their target price on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, UBS Group lowered their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Friday, February 28th. Two 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.70.

Blend Labs 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.