Blend Labs (NYSE:BLND) Given New $3.50 Price Target at UBS Group

Blend Labs (NYSE:BLND - Get Free Report) had its target price reduced by stock analysts at UBS Group from $4.00 to $3.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 18.52% from the company's current price.

BLND has been the subject of a number of other research reports. 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 research report on Thursday, December 5th. Citizens Jmp upgraded Blend Labs to a "strong-buy" rating in a report on Wednesday, December 18th. Canaccord Genuity Group restated a "buy" rating and issued a $5.75 price objective on shares of Blend Labs in a research note on Friday, December 20th. The Goldman Sachs Group raised their price objective on Blend Labs from $3.40 to $3.90 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Blend Labs from $3.25 to $3.85 and gave the stock a "market perform" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Blend Labs has a consensus rating of "Moderate Buy" and a consensus target price of $4.91.

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Blend Labs Trading Down 0.6 %

Shares of Blend Labs stock traded down $0.02 on Friday, reaching $2.95. 4,170,414 shares of the company were exchanged, compared to its average volume of 3,202,608. Blend Labs has a one year low of $2.08 and a one year high of $5.53. The company has a market capitalization of $755.76 million, a price-to-earnings ratio of -8.69 and a beta of 1.36. The company has a 50-day moving average of $3.79 and a 200 day moving average of $4.00.

Insider Transactions at Blend Labs

In other news, insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total value of $102,300.00. Following the completion of the sale, the insider now owns 836,759 shares of the company's stock, valued at approximately $2,853,348.19. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Mayopoulos sold 56,490 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $5.50, for a total transaction of $310,695.00. Following the completion of the sale, the director now directly owns 331,130 shares of the company's stock, valued at approximately $1,821,215. The trade was a 14.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,737 shares of company stock worth $1,196,254. Company insiders own 13.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLND. FMR LLC lifted its position in shares of Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after acquiring an additional 3,576 shares during the period. PFG Advisors lifted its position in shares of Blend Labs by 6.3% during the 4th quarter. PFG Advisors now owns 67,762 shares of the company's stock valued at $285,000 after acquiring an additional 3,986 shares during the period. Summit Trail Advisors LLC lifted its position in shares of Blend Labs by 38.1% during the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company's stock valued at $76,000 after acquiring an additional 4,953 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Blend Labs by 31.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 28,586 shares of the company's stock valued at $120,000 after acquiring an additional 6,763 shares during the period. Finally, Next Century Growth Investors LLC increased its holdings in Blend Labs by 0.5% in the 4th quarter. Next Century Growth Investors LLC now owns 1,497,871 shares of the company's stock valued at $6,306,000 after buying an additional 7,068 shares during the period. 52.56% of the stock is owned by institutional investors.

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.