Raymond James Financial Inc. Takes Position in Blend Labs, Inc. (NYSE:BLND)

Raymond James Financial Inc. acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 680,327 shares of the company's stock, valued at approximately $2,864,000. Raymond James Financial Inc. owned about 0.27% of Blend Labs as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Blend Labs during the fourth quarter worth approximately $42,000. Olympiad Research LP purchased a new position in Blend Labs during the 4th quarter worth $47,000. Trellis Wealth Advisors LLC purchased a new position in Blend Labs during the 4th quarter worth $57,000. BBR Partners LLC purchased a new stake in shares of Blend Labs in the fourth quarter valued at about $60,000. Finally, Virtu Financial LLC acquired a new stake in shares of Blend Labs during the third quarter worth about $63,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BLND. UBS Group decreased their price objective 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. Keefe, Bruyette & Woods dropped their price objective on shares of Blend Labs from $3.85 to $3.50 and set a "market perform" rating on the stock in a research note on Monday, March 3rd. Canaccord Genuity Group reduced their target price on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a research note 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 note on Tuesday, April 22nd. 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.70.

Blend Labs Stock Performance

BLND stock traded up $0.08 during trading on Friday, reaching $3.34. 2,184,585 shares of the company were exchanged, compared to its average volume of 2,933,605. The stock's 50 day moving average price is $3.33 and its 200 day moving average price is $3.89. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The company has a market cap of $865.97 million, a P/E ratio of -9.81 and a beta of 1.29.

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.