Charles Schwab Investment Management Inc. Has $6.16 Million Stake in Blend Labs, Inc. (NYSE:BLND)

Charles Schwab Investment Management Inc. increased its position in Blend Labs, Inc. (NYSE:BLND) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,643,051 shares of the company’s stock after buying an additional 120,152 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Blend Labs were worth $6,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the second quarter valued at $31,000. Xponance Inc. bought a new position in shares of Blend Labs during the 2nd quarter worth approximately $35,000. RiverPark Advisors LLC bought a new position in shares of Blend Labs in the third quarter valued at approximately $77,000. Caxton Associates LP increased its position in shares of Blend Labs by 176.0% during the second quarter. Caxton Associates LP now owns 51,260 shares of the company’s stock valued at $121,000 after acquiring an additional 32,686 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Blend Labs during the third quarter worth $194,000. Institutional investors own 52.56% of the company’s stock.

Insider Buying and Selling at Blend Labs

In other news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the transaction, the insider now owns 259,169 shares in the company, valued at approximately $888,949.67. The trade was a 7.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.50, for a total value of $310,695.00. Following the transaction, the director now owns 331,130 shares of the company’s stock, valued at approximately $1,821,215. The trade was a 14.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,838 shares of company stock valued at $745,544. 13.21% of the stock is owned by company insiders.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $5.17 on Thursday. The company has a market cap of $1.32 billion, a PE ratio of -15.21 and a beta of 1.33. The firm’s 50 day moving average price is $4.27 and its 200-day moving average price is $3.52. Blend Labs, Inc. has a 52-week low of $1.70 and a 52-week high of $5.53.

Analyst Ratings Changes

BLND has been the subject of several research analyst reports. Canaccord Genuity Group raised their price target on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group upped their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.79.

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.