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

Nuveen Asset Management LLC decreased its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent filing with the Securities & 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 about 0.25% of Blend Labs worth $2,706,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Blend Labs during the 4th quarter worth approximately $42,000. Balyasny Asset Management L.P. bought a new position in Blend Labs in the 4th quarter valued at $46,000. Olympiad Research LP bought a new position in Blend Labs in the 4th quarter valued at $47,000. Trellis Wealth Advisors LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at $57,000. Finally, BBR Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at $60,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Blend Labs Trading Up 0.8%

Shares of NYSE BLND traded up $0.03 during mid-day trading on Wednesday, hitting $3.71. The company had a trading volume of 1,704,466 shares, compared to its average volume of 3,000,621. The company has a market capitalization of $963.35 million, a PE ratio of -10.91 and a beta of 1.29. The firm has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $3.83. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BLND shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a research note on Monday, May 12th. Keefe, Bruyette & Woods raised their price objective 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. UBS Group dropped their price objective 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. The Goldman Sachs Group dropped their price objective 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. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Blend Labs presently has an average rating of "Moderate Buy" and a consensus price target 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.