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

Blend Labs, Inc. (NYSE:BLND - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $4.79.

Several equities analysts have commented on the company. UBS Group upped their price objective on Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective 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 raised 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, Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a report on Thursday, November 7th.

Insider Activity

In other news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the transaction, the insider now owns 259,169 shares of the company's stock, valued at $888,949.67. The trade was a 7.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of the 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 completion of the sale, the director now owns 387,620 shares of the company's stock, valued at approximately $1,938,100. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,838 shares of company stock worth $899,144. Corporate insiders own 13.21% of the company's stock.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Blend Labs by 3,799.4% during the second quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company's stock valued at $1,546,000 after acquiring an additional 638,102 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Blend Labs in the 2nd quarter valued at $809,000. Rhumbline Advisers boosted its holdings in Blend Labs by 4,370.6% during the second quarter. Rhumbline Advisers now owns 273,423 shares of the company's stock worth $645,000 after buying an additional 267,307 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Blend Labs by 8.6% during the second quarter. Acadian Asset Management LLC now owns 780,274 shares of the company's stock worth $1,840,000 after buying an additional 62,000 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its position in 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. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Price Performance

Shares of NYSE:BLND traded down $0.16 during trading hours on Friday, hitting $4.92. 2,933,330 shares of the company's stock traded hands, compared to its average volume of 2,368,012. The firm has a market capitalization of $1.26 billion, a P/E ratio of -14.47 and a beta of 1.33. The business has a fifty day moving average price of $4.32 and a 200-day moving average price of $3.55. Blend Labs has a 1 year low of $1.99 and a 1 year high of $5.53.

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.