Blend Labs, Inc. (NYSE:BLND) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,643,051 shares of the company's stock after purchasing an additional 120,152 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of Blend Labs worth $6,161,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Blend Labs by 3,799.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company's stock valued at $1,546,000 after purchasing an additional 638,102 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Blend Labs during the second quarter worth $809,000. Rhumbline Advisers increased its holdings in Blend Labs by 4,370.6% in the second quarter. Rhumbline Advisers now owns 273,423 shares of the company's stock valued at $645,000 after buying an additional 267,307 shares during the last quarter. Acadian Asset Management LLC raised its stake in Blend Labs by 8.6% in the second quarter. Acadian Asset Management LLC now owns 780,274 shares of the company's stock valued at $1,840,000 after buying an additional 62,000 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in Blend Labs by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company's stock valued at $595,000 after buying an additional 6,988 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Blend Labs Stock Performance

NYSE BLND traded down $0.09 during trading on Thursday, reaching $5.09. The company's stock had a trading volume of 1,966,124 shares, compared to its average volume of 2,363,208. Blend Labs, Inc. has a twelve month low of $1.85 and a twelve month high of $5.53. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -15.21 and a beta of 1.33. The business's fifty day moving average price is $4.27 and its 200-day moving average price is $3.52.

Wall Street Analyst Weigh In

BLND has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price objective on Blend Labs from $4.75 to $5.75 and gave the company a "buy" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research report on Thursday, November 7th. UBS Group increased their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Blend Labs has a consensus rating of "Moderate Buy" and an average price target of $4.79.

Insiders Place Their Bets

In other news, Director Timothy J. Mayopoulos sold 56,490 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.50, for a total value of $310,695.00. Following the completion of the sale, the director now owns 331,130 shares in the company, valued at approximately $1,821,215. This trade represents a 14.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Winnie Ling sold 20,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3.43, for a total transaction of $68,600.00. Following the transaction, the insider now owns 259,169 shares in the company, valued at approximately $888,949.67. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,838 shares of company stock valued at $745,544. 13.21% of the stock is owned by company insiders.

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.