Swiss National Bank Boosts Stock Holdings in Blend Labs, Inc. (NYSE:BLND)

Swiss National Bank grew its position in Blend Labs, Inc. (NYSE:BLND) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,500 shares of the company’s stock after purchasing an additional 13,300 shares during the period. Swiss National Bank owned about 0.15% of Blend Labs worth $1,652,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. PFG Advisors lifted its holdings in Blend Labs by 6.3% during the fourth quarter. PFG Advisors now owns 67,762 shares of the company’s stock worth $285,000 after acquiring an additional 3,986 shares during the period. BBR Partners LLC bought a new stake in shares of Blend Labs during the 4th quarter worth $60,000. Raymond James Financial Inc. purchased a new position in shares of Blend Labs in the 4th quarter worth about $2,864,000. Aigen Investment Management LP bought a new position in Blend Labs during the fourth quarter valued at about $136,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Blend Labs by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,841,176 shares of the company’s stock worth $7,751,000 after buying an additional 198,125 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Insider Transactions at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now owns 866,759 shares of the company’s stock, valued at approximately $3,233,011.07. This represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 150,000 shares of company stock valued at $561,900. 13.21% of the stock is currently owned by corporate insiders.

Blend Labs Stock Performance

Shares of BLND opened at $3.57 on Friday. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The stock’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $3.97. The stock has a market capitalization of $925.70 million, a price-to-earnings ratio of -10.48 and a beta of 1.40.

Analysts Set New Price Targets

A number of research analysts have weighed in on BLND shares. Wells Fargo & Company boosted their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a report on Friday, February 28th. UBS Group lowered their target price on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. JMP Securities assumed coverage on Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price target for the company. Finally, Keefe, Bruyette & Woods lowered their price objective 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 equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.91.

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.