Blend Labs, Inc. (NYSE:BLND) Receives Average Rating of “Moderate Buy” from Analysts

Blend Labs, Inc. (NYSE:BLND) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.46.

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Blend Labs Price Performance

NYSE BLND opened at $5.20 on Wednesday. Blend Labs has a 1 year low of $1.21 and a 1 year high of $5.29. The company has a market capitalization of $1.33 billion, a PE ratio of -15.29 and a beta of 1.16. The company has a fifty day moving average of $3.93 and a 200 day moving average of $3.32.

Insider Activity

In related news, insider Winnie Ling sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the transaction, the insider now directly owns 259,169 shares of the company’s stock, valued at approximately $888,949.67. This trade represents a 7.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the sale, the director now owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,024 shares of company stock worth $406,531 over the last three months. 13.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blend Labs

A number of institutional investors have recently made changes to their positions in BLND. FMR LLC boosted its position in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after acquiring an additional 3,576 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Blend Labs by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after purchasing an additional 6,988 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Blend Labs during the 2nd quarter worth approximately $31,000. Xponance Inc. acquired a new stake in shares of Blend Labs in the second quarter valued at approximately $35,000. Finally, EP Wealth Advisors LLC lifted its position in Blend Labs by 8.1% during the first quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock worth $639,000 after buying an additional 14,754 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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.