Invesco Ltd. Buys 1,457,901 Shares of Blend Labs, Inc. (NYSE:BLND)

Invesco Ltd. lifted its stake in Blend Labs, Inc. (NYSE:BLND - Free Report) by 1,230.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,576,347 shares of the company's stock after purchasing an additional 1,457,901 shares during the quarter. Invesco Ltd. owned 0.62% of Blend Labs worth $6,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Blend Labs by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company's stock valued at $20,391,000 after buying an additional 75,379 shares during the last quarter. Principal Financial Group Inc. increased its holdings in 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 buying an additional 2,390,337 shares during the last quarter. JPMorgan Chase & Co. raised its position in Blend Labs by 45.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,486,222 shares of the company's stock valued at $10,467,000 after acquiring an additional 771,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Blend Labs by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,841,176 shares of the company's stock valued at $7,751,000 after acquiring an additional 198,125 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLND. Keefe, Bruyette & Woods reduced their price objective on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Canaccord Genuity Group cut their price objective on Blend Labs from $5.75 to $5.25 and set a "buy" rating on the stock in a research note on Friday, February 28th. UBS Group decreased their target price on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.70.

Blend Labs Trading Down 0.4 %

BLND traded down $0.02 on Thursday, hitting $3.34. 227,729 shares of the stock traded hands, compared to its average volume of 2,928,303. The business has a fifty day moving average price of $3.33 and a two-hundred day moving average price of $3.89. The firm has a market capitalization of $865.97 million, a PE ratio of -9.81 and a beta of 1.29. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

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.