Blend Labs, Inc. (NYSE:BLND - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.77, but opened at $3.95. Blend Labs shares last traded at $3.92, with a volume of 307,364 shares trading hands.
Wall Street Analyst Weigh In
BLND has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a "market perform" rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price target on Blend Labs from $3.40 to $3.90 and gave the company a "buy" rating in a research note on Thursday, November 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $5.75 price target on shares of Blend Labs in a report on Friday, December 20th. UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, JMP Securities assumed coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.11.
Check Out Our Latest Research Report on Blend Labs
Blend Labs Stock Performance
The company's fifty day moving average is $4.25 and its two-hundred day moving average is $3.92. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -11.51 and a beta of 1.36.
Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $45.18 million during the quarter, compared to the consensus estimate of $41.30 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, sell-side analysts anticipate that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total transaction of $213,605.00. Following the completion of the transaction, the director now directly owns 387,620 shares of the company's stock, valued at $1,938,100. This represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the completion of the sale, the insider now directly owns 776,759 shares in the company, valued at $2,897,311.07. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 331,782 shares of company stock valued at $1,504,778 over the last ninety days. Company insiders own 13.21% of the company's stock.
Hedge Funds Weigh In On Blend Labs
A number of large investors have recently added to or reduced their stakes in the stock. Olympiad Research LP purchased a new stake in Blend Labs during the 4th quarter worth approximately $47,000. Trellis Wealth Advisors LLC purchased a new stake in shares of Blend Labs in the 4th quarter valued at $57,000. BBR Partners LLC purchased a new stake in Blend Labs during the 4th quarter worth approximately $60,000. Virtu Financial LLC purchased a new position in Blend Labs in the third quarter valued at $63,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Blend Labs during the fourth quarter worth approximately $74,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
About Blend Labs
(
Get Free Report)
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.
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