Charles Schwab Investment Management Inc. Grows Stock Holdings in Blend Labs, Inc. (NYSE:BLND)

Charles Schwab Investment Management Inc. boosted its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,643,051 shares of the company’s stock after acquiring an additional 120,152 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of Blend Labs worth $6,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. ShawSpring Partners LLC lifted its holdings in shares of Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after buying an additional 2,485,283 shares during the period. Principal Financial Group Inc. boosted its position in shares of Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after acquiring an additional 2,390,337 shares during the last quarter. Bank of New York Mellon Corp increased its stake in 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 worth $1,546,000 after acquiring an additional 638,102 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Blend Labs in the third quarter worth about $1,803,000. Finally, Squarepoint Ops LLC raised its holdings in Blend Labs by 253.8% during the 2nd quarter. Squarepoint Ops LLC now owns 523,094 shares of the company’s stock valued at $1,235,000 after buying an additional 375,233 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Oxana Tkach sold 18,324 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.18, for a total value of $94,918.32. Following the completion of the transaction, the insider now directly owns 88,677 shares of the company’s stock, valued at approximately $459,346.86. The trade was a 17.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 331,130 shares in the company, valued at approximately $1,821,215. This represents a 14.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,838 shares of company stock worth $745,544 over the last ninety days. 13.21% of the stock is currently owned by insiders.

Blend Labs Stock Up 1.6 %

Shares of NYSE:BLND opened at $5.17 on Thursday. The company’s 50-day moving average price is $4.27 and its 200 day moving average price is $3.52. The company has a market cap of $1.32 billion, a PE ratio of -15.21 and a beta of 1.33. Blend Labs, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $5.53.

Wall Street Analysts Forecast Growth

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

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.