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

Shares of Blend Labs, Inc. (NYSE:BLND) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.46.

Several equities analysts have recently commented on BLND shares. Canaccord Genuity Group boosted their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. William Blair raised Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. 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 research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on Blend Labs from $3.50 to $4.50 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

Blend Labs Trading Down 1.9 %

Shares of BLND opened at $5.18 on Wednesday. The business’s 50 day moving average is $3.96 and its 200 day moving average is $3.34. Blend Labs has a 12-month low of $1.21 and a 12-month high of $5.40. The company has a market capitalization of $1.33 billion, a PE ratio of -15.23 and a beta of 1.16.

Insider Buying and Selling

In other Blend Labs news, 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 transaction of $94,918.32. Following the completion of the transaction, the insider now directly owns 88,677 shares of the company’s stock, valued at $459,346.86. The trade was a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Winnie Ling sold 20,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00. Following the completion of the sale, the insider now directly owns 286,416 shares in the company, valued at approximately $953,765.28. This represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,348 shares of company stock worth $501,449. Corporate insiders own 13.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BLND. Dark Forest Capital Management LP purchased a new position in Blend Labs during the 2nd quarter valued at $31,000. Xponance Inc. purchased a new stake in shares of Blend Labs during the second quarter valued at $35,000. Caxton Associates LP bought a new position in shares of Blend Labs in the first quarter worth about $60,000. Virtu Financial LLC purchased a new position in Blend Labs in the 3rd quarter worth about $63,000. Finally, SG Americas Securities LLC purchased a new stake in Blend Labs in the 1st quarter valued at about $70,000. Hedge funds and other institutional investors 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.