Deutsche Bank AG Increases Holdings in Blend Labs, Inc. (NYSE:BLND)

Deutsche Bank AG grew its stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 748.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,203,511 shares of the company's stock after buying an additional 1,061,621 shares during the quarter. Deutsche Bank AG owned 0.47% of Blend Labs worth $5,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after purchasing an additional 2,390,337 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Blend Labs in the fourth quarter worth about $132,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Blend Labs in the fourth quarter worth about $114,000. Caprock Group LLC grew its stake in shares of Blend Labs by 142.5% in the fourth quarter. Caprock Group LLC now owns 75,032 shares of the company's stock worth $316,000 after purchasing an additional 44,096 shares during the last quarter. Finally, Calamos Advisors LLC grew its stake in shares of Blend Labs by 3.6% in the fourth quarter. Calamos Advisors LLC now owns 299,995 shares of the company's stock worth $1,263,000 after purchasing an additional 10,366 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their target price 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 reduced their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report 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 report on Monday, May 12th. Finally, Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research note on Monday. Two equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $4.90.

Blend Labs Stock Performance

Shares of BLND traded up $0.06 on Thursday, reaching $3.53. The stock had a trading volume of 3,526,217 shares, compared to its average volume of 2,991,500. The firm has a market capitalization of $915.31 million, a price-to-earnings ratio of -10.37 and a beta of 1.29. The company has a 50-day simple moving average of $3.38 and a 200-day simple moving average of $3.88. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53.

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.