Bank of America Corp DE Has $4.79 Million Stake in Blend Labs, Inc. (NYSE:BLND)

Bank of America Corp DE raised its stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,137,457 shares of the company's stock after purchasing an additional 163,602 shares during the quarter. Bank of America Corp DE owned 0.44% of Blend Labs worth $4,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Blend Labs during the 4th quarter worth about $42,000. Olympiad Research LP bought a new position in shares of Blend Labs during the 4th quarter worth about $47,000. Trellis Wealth Advisors LLC bought a new stake in Blend Labs in the fourth quarter valued at about $57,000. BBR Partners LLC bought a new stake in Blend Labs in the fourth quarter valued at about $60,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Blend Labs in the fourth quarter valued at about $70,000. Institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on BLND shares. The Goldman Sachs Group lowered their target price on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research note on Monday, May 12th. Keefe, Bruyette & Woods upped their target price on shares of Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research note on Monday, May 19th. UBS Group lowered their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 target price on shares of Blend Labs in a research note on Monday, May 12th. Finally, JMP Securities reissued a "market outperform" rating and issued a $7.00 target price on shares of Blend Labs in a research note on Wednesday, May 28th. Two 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. According to MarketBeat, Blend Labs currently has an average rating of "Moderate Buy" and an average target price of $4.90.

Blend Labs Stock Down 0.7%

NYSE:BLND traded down $0.03 on Monday, reaching $3.64. The stock had a trading volume of 2,007,873 shares, compared to its average volume of 3,009,459. The company has a market capitalization of $943.87 million, a P/E ratio of -10.69 and a beta of 1.29. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The stock has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.83.

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.