Blend Labs, Inc. (NYSE:BLND) Insider Oxana Tkach Sells 4,303 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,303 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $3.98, for a total transaction of $17,125.94. Following the completion of the sale, the insider now owns 88,651 shares in the company, valued at approximately $352,830.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Blend Labs Stock Up 1.0 %

BLND opened at $3.90 on Wednesday. The company has a market cap of $984.27 million, a price-to-earnings ratio of -6.72 and a beta of 1.15. Blend Labs, Inc. has a 52-week low of $1.10 and a 52-week high of $4.22. The firm’s fifty day simple moving average is $3.44 and its two-hundred day simple moving average is $2.96.

Blend Labs (NYSE:BLND) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million for the quarter, compared to the consensus estimate of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. On average, research analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and raised their price target for the company from $3.00 to $4.75 in a research report on Monday, August 12th. Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research report on Monday, August 12th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group raised their price target on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Blend Labs presently has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Blend Labs by 24.2% in the fourth quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock worth $61,000 after buying an additional 4,633 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of Blend Labs by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after buying an additional 6,988 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Blend Labs by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock worth $464,000 after buying an additional 11,448 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs in the second quarter worth about $31,000. Finally, Xponance Inc. purchased a new position in shares of Blend Labs in the second quarter worth about $35,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.