Keefe, Bruyette & Woods Lowers Blend Labs (NYSE:BLND) Price Target to $3.50

Blend Labs (NYSE:BLND) had its target price reduced by Keefe, Bruyette & Woods from $3.85 to $3.50 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. UBS Group dropped their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, February 28th. JMP Securities started coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price target on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.91.

Blend Labs Stock Up 5.2 %

NYSE BLND opened at $3.12 on Monday. The stock has a market capitalization of $797.22 million, a PE ratio of -9.16 and a beta of 1.36. The company has a 50 day moving average price of $3.76 and a two-hundred day moving average price of $4.00. Blend Labs has a 12-month low of $2.08 and a 12-month high of $5.53.

Insider Buying and Selling

In related news, 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the sale, the insider now directly owns 836,759 shares in the company, valued at $2,853,348.19. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,737 shares of company stock valued at $1,196,254. 13.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new position in Blend Labs during the 4th quarter valued at about $42,000. Balyasny Asset Management L.P. acquired a new position in Blend Labs during the 4th quarter valued at about $46,000. Olympiad Research LP acquired a new position in Blend Labs during the 4th quarter valued at about $47,000. Trellis Wealth Advisors LLC acquired a new position in Blend Labs during the 4th quarter valued at about $57,000. Finally, BBR Partners LLC acquired a new position in Blend Labs during the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

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.