Oxana Tkach Sells 4,303 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,303 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $3.98, for a total transaction of $17,125.94. Following the sale, the insider now directly owns 88,651 shares in the company, valued at $352,830.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Blend Labs Stock Performance

NYSE:BLND opened at $3.94 on Thursday. Blend Labs, Inc. has a 1 year low of $1.10 and a 1 year high of $4.22. The business has a fifty day moving average of $3.46 and a 200-day moving average of $2.97. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -6.79 and a beta of 1.15.

Blend Labs (NYSE:BLND) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. The firm had revenue of $40.48 million for the quarter, compared to analysts’ expectations of $39.50 million. On average, equities research analysts predict that Blend Labs, Inc. will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group boosted their price objective on Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods increased their target price on Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.00 to $4.75 in a report on Monday, August 12th. Finally, William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.93.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Blend Labs by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after purchasing an additional 4,633 shares during the period. ClariVest Asset Management LLC grew its holdings in Blend Labs by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after acquiring an additional 6,988 shares during the period. EP Wealth Advisors LLC raised its position in Blend Labs by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock worth $464,000 after acquiring an additional 11,448 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Blend Labs in the 2nd quarter valued at about $31,000. Finally, Xponance Inc. bought a new position in shares of Blend Labs during the 2nd quarter valued at about $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.