Blend Labs, Inc. (NYSE:BLND) Given Consensus Rating of "Moderate Buy" by Analysts

Blend Labs, Inc. (NYSE:BLND - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.91.

A number of brokerages recently weighed in on BLND. Wells Fargo & Company lifted their price objective on shares of Blend Labs from $4.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, December 5th. UBS Group decreased their price target on Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday. Keefe, Bruyette & Woods lowered their price target on Blend Labs from $3.85 to $3.50 and set a "market perform" rating for the company in a research report on Monday. Canaccord Genuity Group reduced their target price on shares of Blend Labs from $5.75 to $5.25 and set a "buy" rating for the company in a report on Friday. Finally, Citizens Jmp upgraded shares of Blend Labs to a "strong-buy" rating in a research report on Wednesday, December 18th.

Insider Buying and Selling

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 10th. The shares were 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. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the firm's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the transaction, the director now directly owns 331,130 shares of the company's stock, valued at $1,821,215. The trade was a 14.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,737 shares of company stock valued at $1,196,254 over the last three months. 13.21% of the stock is currently owned by company insiders.

Remove Ads

Hedge Funds Weigh In On Blend Labs

Several institutional investors have recently added to or reduced their stakes in the business. Lightspeed Management Company L.L.C. acquired a new position in shares of Blend Labs in the 4th quarter valued at $97,366,000. Whitebark Investors LP purchased a new stake in Blend Labs during the fourth quarter valued at about $10,895,000. Principal Financial Group Inc. increased its stake in Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after acquiring an additional 2,390,337 shares during the last quarter. State Street Corp raised its holdings in shares of Blend Labs by 57.6% in the 3rd quarter. State Street Corp now owns 5,461,973 shares of the company's stock worth $20,482,000 after purchasing an additional 1,995,362 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in shares of Blend Labs in the 4th quarter valued at about $6,765,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Price Performance

Shares of NYSE:BLND traded down $0.15 during trading on Friday, hitting $2.98. The company had a trading volume of 4,376,621 shares, compared to its average volume of 3,177,878. Blend Labs has a one year low of $2.08 and a one year high of $5.53. The stock has a market cap of $762.67 million, a price-to-earnings ratio of -8.76 and a beta of 1.36. The company has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $4.02.

Blend Labs Company Profile

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.