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

Shares of Blend Labs, Inc. (NYSE:BLND) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.11.

Several equities analysts have recently issued reports on BLND shares. Canaccord Genuity Group reissued a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a report on Friday. UBS Group boosted their target price on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JMP Securities started coverage on Blend Labs in a research report on Wednesday. They set an “outperform” rating and a $7.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price 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.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $4.40 on Friday. Blend Labs has a 52-week low of $2.08 and a 52-week high of $5.53. The stock has a market cap of $1.13 billion, a P/E ratio of -12.94 and a beta of 1.33. The firm has a 50 day moving average price of $4.44 and a 200 day moving average price of $3.61.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the completion of the transaction, the insider now directly owns 907,439 shares in the company, valued at $4,582,566.95. This represents a 3.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the sale, the insider now directly owns 259,169 shares in the company, valued at approximately $888,949.67. This represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,838 shares of company stock valued at $1,050,644 in the last quarter. 13.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently made changes to their positions in BLND. FMR LLC raised its position in Blend Labs by 15.8% during 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. ClariVest Asset Management LLC increased its stake in shares of Blend Labs by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after purchasing an additional 6,988 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Blend Labs in the 2nd quarter valued at about $31,000. Xponance Inc. bought a new position in Blend Labs during the second quarter worth about $35,000. Finally, EP Wealth Advisors LLC increased its position in Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after buying an additional 16,084 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

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.