Price T Rowe Associates Inc. MD Buys 17,914 Shares of Blend Labs, Inc. (NYSE:BLND)

Price T Rowe Associates Inc. MD grew its stake in Blend Labs, Inc. (NYSE:BLND) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,242 shares of the company’s stock after acquiring an additional 17,914 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Blend Labs were worth $397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at about $42,000. Olympiad Research LP acquired a new position in shares of Blend Labs in the 4th quarter valued at approximately $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at approximately $57,000. BBR Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at approximately $60,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Blend Labs in the 4th quarter valued at approximately $70,000. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLND shares. The Goldman Sachs Group decreased their price objective on Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research report on Monday. Keefe, Bruyette & Woods decreased their price objective on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research report on Monday, March 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a research report on Monday. Wells Fargo & Company decreased their price objective on Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group reduced 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. Two research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.83.

Blend Labs Stock Down 0.8%

NYSE:BLND opened at $3.60 on Thursday. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The business has a 50 day moving average price of $3.36 and a two-hundred day moving average price of $3.88. The company has a market cap of $934.78 million, a P/E ratio of -10.59 and a beta of 1.29.

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.