Wells Fargo & Company MN Purchases 40,266 Shares of Blend Labs, Inc. (NYSE:BLND)

Wells Fargo & Company MN raised its position in Blend Labs, Inc. (NYSE:BLND) by 49.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,206 shares of the company’s stock after acquiring an additional 40,266 shares during the period. Wells Fargo & Company MN’s holdings in Blend Labs were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Blend Labs during the 4th quarter worth $42,000. Olympiad Research LP acquired a new stake in Blend Labs in the fourth quarter worth about $47,000. Trellis Wealth Advisors LLC purchased a new stake in shares of Blend Labs during the fourth quarter worth about $57,000. BBR Partners LLC acquired a new position in shares of Blend Labs during the fourth quarter valued at about $60,000. Finally, Virtu Financial LLC purchased a new position in shares of Blend Labs in the 3rd quarter valued at approximately $63,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BLND has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Blend Labs from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Canaccord Genuity Group cut their target price on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research report on Friday, February 28th. UBS Group lowered their price target 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. Finally, Keefe, Bruyette & Woods dropped their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Blend Labs presently has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Blend Labs Stock Up 1.5 %

Blend Labs stock opened at $3.31 on Friday. The business’s 50-day moving average price is $3.32 and its 200 day moving average price is $3.88. The firm has a market cap of $859.48 million, a price-to-earnings ratio of -9.74 and a beta of 1.29. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

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.