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

Shares of Blend Labs, Inc. (NYSE:BLND) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $4.46.

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on Blend Labs from $3.50 to $4.50 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price objective 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. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and lifted their target price for the company from $3.00 to $4.75 in a research note on Monday, August 12th.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $5.20 on Wednesday. The stock’s 50-day simple moving average is $3.93 and its two-hundred day simple moving average is $3.32. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -15.29 and a beta of 1.16. Blend Labs has a 52-week low of $1.21 and a 52-week high of $5.29.

Insider Activity

In other news, insider Winnie Ling sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the transaction, the insider now owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the 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 completion of the sale, the director now owns 387,620 shares in the company, valued at approximately $1,938,100. The trade was 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 valued at $406,531 in the last ninety days. Insiders own 13.21% of the company’s stock.

Institutional Trading of Blend Labs

A number of large investors have recently modified their holdings of BLND. Dark Forest Capital Management LP bought a new position in Blend Labs during the 2nd quarter worth about $31,000. Xponance Inc. acquired a new position in shares of Blend Labs during the second quarter valued at about $35,000. Caxton Associates LP purchased a new position in shares of Blend Labs in the 1st quarter valued at approximately $60,000. Virtu Financial LLC purchased a new position in shares of Blend Labs in the 3rd quarter valued at approximately $63,000. Finally, SG Americas Securities LLC acquired a new stake in Blend Labs in the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors 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.