JPMorgan Chase & Co. Has $10.47 Million Holdings in Blend Labs, Inc. (NYSE:BLND)

JPMorgan Chase & Co. lifted its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,486,222 shares of the company's stock after buying an additional 771,267 shares during the quarter. JPMorgan Chase & Co. owned about 0.97% of Blend Labs worth $10,467,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Blend Labs by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company's stock valued at $17,880,000 after acquiring an additional 283,207 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Blend Labs during the third quarter valued at approximately $676,000. Barclays PLC lifted its stake in shares of Blend Labs by 263.1% in the third quarter. Barclays PLC now owns 407,774 shares of the company's stock worth $1,530,000 after buying an additional 295,460 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after buying an additional 2,390,337 shares during the period. Finally, Franklin Resources Inc. bought a new position in Blend Labs in the 3rd quarter worth $2,463,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Insider Activity

In other news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the transaction, the insider now directly owns 776,759 shares of the company's stock, valued at approximately $2,897,311.07. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.21% of the company's stock.

Analyst Ratings Changes

BLND has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Canaccord Genuity Group cut their price target on Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Blend Labs currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.91.

Blend Labs Trading Down 0.2 %

BLND stock traded down $0.01 during midday trading on Friday, hitting $3.11. The stock had a trading volume of 2,790,502 shares, compared to its average volume of 2,937,135. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The stock has a 50-day simple moving average of $3.43 and a 200 day simple moving average of $3.91. The firm has a market capitalization of $806.25 million, a price-to-earnings ratio of -9.13 and a beta of 1.29.

Blend Labs Company 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.