Northern Trust Corp Purchases 309,067 Shares of Blend Labs, Inc. (NYSE:BLND)

Northern Trust Corp lifted its stake in Blend Labs, Inc. (NYSE:BLND) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,212,460 shares of the company’s stock after acquiring an additional 309,067 shares during the period. Northern Trust Corp owned approximately 0.86% of Blend Labs worth $9,314,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BLND shares. Keefe, Bruyette & Woods cut their price objective on shares of Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group cut their price target on Blend Labs from $5.60 to $4.80 and set a “buy” rating on the stock in a research note on Monday, May 12th. UBS Group decreased their price objective on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company dropped their price objective on Blend Labs from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.83.

Blend Labs Stock Performance

Shares of BLND stock opened at $3.67 on Friday. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The company’s 50 day moving average price is $3.38 and its two-hundred day moving average price is $3.88. The company has a market capitalization of $951.66 million, a P/E ratio of -10.78 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.