Blend Labs, Inc. (NYSE:BLND) Insider Amir Jafari Acquires 6,265 Shares

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari bought 6,265 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $2.65 per share, with a total value of $16,602.25. Following the purchase, the insider now directly owns 402,716 shares of the company’s stock, valued at approximately $1,067,197.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Amir Jafari also recently made the following trade(s):

• On Wednesday, March 13th, Amir Jafari bought 5,555 shares of Blend Labs stock. The shares were acquired at an average price of $3.00 per share, with a total value of $16,665.00.

Blend Labs Trading Down 1.7 %

Shares of Blend Labs stock opened at $2.38 on Wednesday. Blend Labs, Inc. has a 12-month low of $0.53 and a 12-month high of $3.40. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 34.81. The stock has a market cap of $599.88 million, a PE ratio of -3.09 and a beta of 1.00. The company has a 50-day moving average of $2.83 and a two-hundred day moving average of $2.17.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. The business had revenue of $36.10 million during the quarter, compared to analysts’ expectations of $37.52 million. On average, research analysts anticipate that Blend Labs, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in shares of Blend Labs by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock worth $61,000 after purchasing an additional 4,633 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Blend Labs by 418.5% during the 1st quarter. Royal Bank of Canada now owns 6,009 shares of the company’s stock worth $34,000 after purchasing an additional 4,850 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Blend Labs by 9.7% during the 4th quarter. JPMorgan Chase & Co. now owns 110,861 shares of the company’s stock worth $159,000 after purchasing an additional 9,764 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Blend Labs during the 4th quarter worth approximately $26,000. Finally, First Republic Investment Management Inc. increased its stake in shares of Blend Labs by 4.2% during the 1st quarter. First Republic Investment Management Inc. now owns 267,130 shares of the company’s stock worth $1,523,000 after purchasing an additional 10,731 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a report on Monday, March 18th. Canaccord Genuity Group increased their target price on shares of Blend Labs from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, March 18th. The Goldman Sachs Group increased their target price on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Wells Fargo & Company raised shares of Blend Labs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $1.50 to $3.50 in a report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Blend Labs presently has an average rating of “Hold” and a consensus target price of $3.06.

Blend Labs Company Profile

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.