Oberweis Asset Management Inc. Acquires New Position in Blend Labs, Inc. (NYSE:BLND)

Oberweis Asset Management Inc. acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 964,700 shares of the company's stock, valued at approximately $4,061,000. Oberweis Asset Management Inc. owned 0.38% of Blend Labs at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Blend Labs by 23.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,242 shares of the company's stock worth $397,000 after purchasing an additional 17,914 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Blend Labs by 75.2% in the fourth quarter. Hsbc Holdings PLC now owns 48,414 shares of the company's stock valued at $207,000 after purchasing an additional 20,780 shares in the last quarter. Stifel Financial Corp increased its position in Blend Labs by 96.4% in the fourth quarter. Stifel Financial Corp now owns 20,375 shares of the company's stock worth $86,000 after purchasing an additional 10,000 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Blend Labs during the fourth quarter valued at $6,765,000. Finally, MetLife Investment Management LLC lifted its position in Blend Labs by 9.6% during the fourth quarter. MetLife Investment Management LLC now owns 137,579 shares of the company's stock valued at $579,000 after purchasing an additional 12,019 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BLND shares. Wells Fargo & Company reduced their target price on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a report on Monday, March 3rd. UBS Group decreased their price objective 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, Canaccord Genuity Group lowered their target price on Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.70.

Blend Labs Stock Down 2.1 %

Shares of NYSE BLND traded down $0.07 during mid-day trading on Wednesday, reaching $3.29. 643,917 shares of the company were exchanged, compared to its average volume of 2,946,950. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The firm has a 50-day moving average of $3.34 and a 200 day moving average of $3.89. The stock has a market cap of $854.29 million, a price-to-earnings ratio of -9.68 and a beta of 1.29.

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.