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

Shares of Blend Labs, Inc. (NYSE:BLND - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two 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 1-year price objective among brokers that have covered the stock in the last year is $5.11.

Several research analysts have commented on BLND shares. Wells Fargo & Company upped their target price 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. UBS Group boosted their price target on shares of Blend Labs from $3.00 to $4.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Citizens Jmp raised shares of Blend Labs to a "strong-buy" rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods lifted their price target on Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a research report on Thursday, November 7th. Finally, JMP Securities started coverage on Blend Labs in a report on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 price objective for the company.

Insider Transactions at Blend Labs

In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $1,938,100. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Oxana Tkach sold 18,324 shares of Blend Labs stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.18, for a total value of $94,918.32. Following the transaction, the insider now owns 88,677 shares in the company, valued at $459,346.86. This represents a 17.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,782 shares of company stock valued at $1,182,878 over the last three months. Company insiders own 13.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs during the 2nd quarter worth about $31,000. Xponance Inc. bought a new position in Blend Labs during the second quarter valued at approximately $35,000. Virtu Financial LLC bought a new position in Blend Labs during the third quarter valued at approximately $63,000. RiverPark Advisors LLC acquired a new stake in Blend Labs in the third quarter valued at approximately $77,000. Finally, FMR LLC grew its position in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company's stock worth $98,000 after acquiring an additional 3,576 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Stock Performance

Shares of BLND traded up $0.01 during midday trading on Thursday, hitting $3.74. 3,014,272 shares of the stock traded hands, compared to its average volume of 4,190,433. Blend Labs has a 1-year low of $2.08 and a 1-year high of $5.53. The business's 50 day moving average price is $4.60 and its two-hundred day moving average price is $3.76. The firm has a market capitalization of $957.18 million, a PE ratio of -11.00 and a beta of 1.38.

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.