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

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $4.79.

BLND has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Canaccord Genuity Group lifted 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. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Blend Labs Trading Down 3.1 %

BLND opened at $4.92 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -14.47 and a beta of 1.33. Blend Labs has a 12 month low of $1.99 and a 12 month high of $5.53. The stock has a fifty day moving average price of $4.32 and a 200-day moving average price of $3.55.

Insider Activity

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total transaction of $153,600.00. Following the completion of the transaction, the insider now owns 937,439 shares in the company, valued at approximately $4,799,687.68. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction dated 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 $1,938,100. The trade was a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,838 shares of company stock valued at $899,144. Company insiders own 13.21% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in BLND. Advantage Alpha Capital Partners LP purchased a new position in Blend Labs in the third quarter valued at $3,253,000. SG Americas Securities LLC acquired a new position in Blend Labs in the 3rd quarter worth about $660,000. Fullcircle Wealth LLC acquired a new position in Blend Labs in the 3rd quarter worth about $508,000. Charles Schwab Investment Management Inc. boosted its position in Blend Labs by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock worth $6,161,000 after purchasing an additional 120,152 shares in the last quarter. Finally, ShawSpring Partners LLC grew its holdings in Blend Labs by 58.7% in the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after purchasing an additional 2,485,283 shares during the period. 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.