Chase Coleman’s Tiger Global Management Portfolio: 5 New Stock Picks

3. Blend Labs, Inc. (NYSE:BLND

Tiger Global Management LLC’s Stake Value: $249,054,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.47%

Number of Hedge Fund Holders: 19

Blend Labs, Inc. (NYSE:BLND), a company offering a cloud-based platform enabling customer-centric banking, announced Q3 earnings on November 10. EPS in the quarter equaled -$0.13, missing analysts’ consensus estimates by -$0.02. The $89.57 million revenue for the quarter outperformed estimates by $3.35 million. 

As of Q3 2021, Tiger Global Management holds 18.47 million shares in Blend Labs, Inc. (NYSE:BLND), worth almost $249 million, representing 0.47% of the firm’s total investments. 

In anticipation of Q3 results and Blend Labs, Inc. (NYSE:BLND)’s ability to drive revenue, Piper Sandler analyst Arvind Ramnani kept an Overweight rating on the shares with a $24 price target on November 4. 

Of the 867 hedge funds tracked by Insider Monkey, 19 funds were bullish on Blend Labs, Inc. (NYSE:BLND) as of the third quarter, holding stakes worth $487.74 million in the company.