UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 194,310 Shares of Blend Labs, Inc. (NYSE:BLND)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 107.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 374,682 shares of the company’s stock after buying an additional 194,310 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Blend Labs worth $1,577,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BLND. Lightspeed Management Company L.L.C. purchased a new stake in Blend Labs in the fourth quarter worth $97,366,000. Vanguard Group Inc. lifted its position in shares of Blend Labs by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company’s stock worth $70,776,000 after purchasing an additional 388,583 shares during the period. ShawSpring Partners LLC boosted its stake in shares of Blend Labs by 6.8% during the 4th quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company’s stock valued at $29,803,000 after purchasing an additional 449,175 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Blend Labs by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company’s stock valued at $20,391,000 after buying an additional 75,379 shares during the period. Finally, Metavasi Capital LP increased its position in shares of Blend Labs by 6.4% during the fourth quarter. Metavasi Capital LP now owns 4,804,101 shares of the company’s stock valued at $20,225,000 after buying an additional 290,623 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BLND shares. The Goldman Sachs Group lowered their price objective on shares of Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a report on Monday, May 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a research report on Monday, May 12th. UBS Group dropped their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods upped their price target on Blend Labs from $3.50 to $4.00 and gave the stock a “market perform” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company lowered 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.90.

Blend Labs Stock Up 0.8%

BLND stock opened at $3.75 on Monday. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The firm has a market cap of $973.73 million, a PE ratio of -11.03 and a beta of 1.30. The business has a 50 day moving average of $3.39 and a 200 day moving average of $3.80.

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.