Nuveen Asset Management LLC Sells 357,059 Shares of Blend Labs, Inc. (NYSE:BLND)

Nuveen Asset Management LLC reduced its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 35.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 642,840 shares of the company's stock after selling 357,059 shares during the period. Nuveen Asset Management LLC owned 0.25% of Blend Labs worth $2,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLND. Lightspeed Management Company L.L.C. bought a new stake in shares of Blend Labs in the 4th quarter worth about $97,366,000. Vanguard Group Inc. grew its position in Blend Labs by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock worth $70,776,000 after acquiring an additional 388,583 shares in the last quarter. ShawSpring Partners LLC increased its stake in Blend Labs by 6.8% during the fourth quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company's stock worth $29,803,000 after acquiring an additional 449,175 shares during the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 75,379 shares during the period. Finally, Metavasi Capital LP raised its position in 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 purchasing an additional 290,623 shares during the period. 52.56% of the stock is owned by institutional investors.

Blend Labs Trading Up 0.8%

Shares of NYSE BLND traded up $0.03 during mid-day trading on Friday, reaching $3.75. The company had a trading volume of 1,605,850 shares, compared to its average volume of 3,006,628. The stock has a market cap of $973.73 million, a price-to-earnings ratio of -11.03 and a beta of 1.30. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The business's 50-day moving average is $3.39 and its 200-day moving average is $3.82.

Analysts Set New Price Targets

BLND has been the topic of several analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research report on Monday, May 12th. The Goldman Sachs Group dropped their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research report 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 for the company in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $7.00 price target on shares of Blend Labs in a research note on Wednesday, May 28th. 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.90.

About Blend Labs

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.