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

Blend Labs, Inc. (NYSE:BLND) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.91.

A number of equities research analysts have commented on BLND shares. Keefe, Bruyette & Woods reduced their target price on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, UBS Group lowered their price target on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, February 28th.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.59, for a total transaction of $107,700.00. Following the completion of the transaction, the insider now owns 806,759 shares of the company’s stock, valued at $2,896,264.81. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 13.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLND. Geode Capital Management LLC grew its position in shares of Blend Labs by 6.3% in the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after purchasing an additional 283,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Blend Labs in the 3rd quarter valued at about $676,000. Barclays PLC grew its stake in Blend Labs by 263.1% during the 3rd quarter. Barclays PLC now owns 407,774 shares of the company’s stock valued at $1,530,000 after purchasing an additional 295,460 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after buying an additional 2,390,337 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Blend Labs by 193.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company’s stock valued at $6,431,000 after purchasing an additional 1,130,706 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Trading Down 0.2 %

NYSE:BLND opened at $3.11 on Friday. The company has a market cap of $806.25 million, a P/E ratio of -9.13 and a beta of 1.29. The company’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.91. Blend Labs has a twelve month low of $2.08 and a twelve month high of $5.53.

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.