Charles Schwab Investment Management Inc. boosted its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,841,176 shares of the company's stock after acquiring an additional 198,125 shares during the period. Charles Schwab Investment Management Inc. owned about 0.72% of Blend Labs worth $7,751,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new position in shares of Blend Labs during the 3rd quarter worth approximately $194,000. Advantage Alpha Capital Partners LP acquired a new stake in Blend Labs during the 3rd quarter valued at $3,253,000. FMR LLC increased its position in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company's stock worth $98,000 after buying an additional 3,576 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Blend Labs by 110.9% in the third quarter. MetLife Investment Management LLC now owns 125,560 shares of the company's stock worth $471,000 after acquiring an additional 66,015 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Blend Labs in the third quarter valued at $231,000. Institutional investors and hedge funds own 52.56% of the company's stock.
Blend Labs Stock Down 2.4 %
Shares of BLND stock traded down $0.09 on Thursday, reaching $3.46. 2,039,158 shares of the stock were exchanged, compared to its average volume of 3,390,346. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The stock has a market cap of $897.13 million, a P/E ratio of -10.16 and a beta of 1.40. The firm has a 50 day moving average of $3.65 and a two-hundred day moving average of $3.98.
Insiders Place Their Bets
In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the completion of the sale, the insider now directly owns 866,759 shares in the company, valued at $3,233,011.07. The trade was a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 150,000 shares of company stock worth $561,900 over the last three months. 13.21% of the stock is owned by insiders.
Analyst Ratings Changes
BLND has been the subject of a number of recent research reports. UBS Group dropped their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. JMP Securities assumed coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 price objective for the company. Canaccord Genuity Group decreased 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. Keefe, Bruyette & Woods cut their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price target on Blend Labs from $4.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.91.
Read Our Latest Report on BLND
Blend Labs Profile
(
Free Report)
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.
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