Blend Labs, Inc. (NYSE:BLND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.79.

A number of research firms recently commented on BLND. Keefe, Bruyette & Woods boosted their target price on 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 target price on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their price objective 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. Finally, UBS Group upped their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $4.92 on Friday. The company has a market cap of $1.26 billion, a P/E ratio of -14.47 and a beta of 1.33. Blend Labs has a 52-week low of $1.99 and a 52-week high of $5.53. The firm’s fifty day moving average is $4.32 and its two-hundred day moving average is $3.55.

Insiders Place Their Bets

In related news, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now owns 387,620 shares of the company’s stock, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Winnie Ling sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00. Following the completion of the sale, the insider now directly owns 279,169 shares of the company’s stock, valued at approximately $1,133,426.14. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,838 shares of company stock valued at $899,144 over the last 90 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 the company. FMR LLC raised its position in Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares in the last quarter. ClariVest Asset Management LLC increased its stake in shares of Blend Labs by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after buying an additional 6,988 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Blend Labs in the second quarter valued at about $31,000. Xponance Inc. purchased a new stake in Blend Labs in the second quarter worth about $35,000. Finally, EP Wealth Advisors LLC grew its holdings in Blend Labs by 8.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after acquiring an additional 16,084 shares in the last quarter. 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.