Brokerages Set Blend Labs, Inc. (NYSE:BLND) Target Price at $4.46

Blend Labs, Inc. (NYSE:BLND - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.46.

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective 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 raised shares of Blend Labs from a "hold" rating to a "buy" rating and upped their price target for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Canaccord Genuity Group upped their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, 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 report on Thursday, November 7th.

Insider Buying and Selling

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $3.33, for a total value of $66,600.00. Following the transaction, the insider now owns 286,416 shares in the company, valued at $953,765.28. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 54,303 shares of company stock worth $192,926. 13.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Blend Labs in the 3rd quarter worth approximately $63,000. Barclays PLC raised its position in shares of Blend Labs by 263.1% during the 3rd quarter. Barclays PLC now owns 407,774 shares of the company's stock worth $1,530,000 after purchasing an additional 295,460 shares during the period. Geode Capital Management LLC boosted its stake in Blend Labs by 6.3% during the 3rd 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. Main Management ETF Advisors LLC acquired a new position in Blend Labs during the 3rd quarter worth $1,019,000. Finally, XTX Topco Ltd boosted its holdings in shares of Blend Labs by 418.5% in the third quarter. XTX Topco Ltd now owns 58,744 shares of the company's stock valued at $220,000 after acquiring an additional 47,414 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Blend Labs Stock Performance

Blend Labs stock traded up $0.10 during trading hours on Wednesday, reaching $5.07. 3,646,017 shares of the stock were exchanged, compared to its average volume of 2,296,255. Blend Labs has a 52-week low of $1.18 and a 52-week high of $5.11. The stock has a market cap of $1.30 billion, a P/E ratio of -14.90 and a beta of 1.16. The firm's 50 day moving average is $3.86 and its 200 day moving average is $3.28.

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.