Amir Jafari Acquires 6,666 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari bought 6,666 shares of the stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $2.54 per share, with a total value of $16,931.64. Following the acquisition, the insider now owns 501,377 shares of the company’s stock, valued at $1,273,497.58. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Amir Jafari also recently made the following trade(s):

• On Thursday, June 13th, Amir Jafari bought 6,265 shares of Blend Labs stock. The stock was purchased at an average price of $2.66 per share, with a total value of $16,664.90.

Blend Labs Stock Up 10.7 %

NYSE BLND traded up $0.31 during trading hours on Tuesday, reaching $3.22. 2,069,227 shares of the company were exchanged, compared to its average volume of 1,997,658. Blend Labs, Inc. has a 1 year low of $1.03 and a 1 year high of $3.40. The business’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $2.66. The stock has a market capitalization of $812.66 million, a P/E ratio of -5.17 and a beta of 1.10.

Blend Labs (NYSE:BLND) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Blend Labs had a negative net margin of 90.62% and a negative return on equity of 595.99%. The business had revenue of $34.95 million during the quarter, compared to the consensus estimate of $33.94 million. As a group, sell-side analysts anticipate that Blend Labs, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on BLND shares. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.00 target price on shares of Blend Labs in a report on Wednesday, May 8th. Keefe, Bruyette & Woods increased their target price on shares of Blend Labs from $2.65 to $3.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.15.

Hedge Funds Weigh In On Blend Labs

Several large investors have recently modified their holdings of the business. Formation8 GP LLC purchased a new position in shares of Blend Labs in the fourth quarter worth about $41,362,000. Vanguard Group Inc. increased its stake in shares of Blend Labs by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after purchasing an additional 46,526 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Blend Labs by 2,656.9% in the first quarter. Acadian Asset Management LLC now owns 718,274 shares of the company’s stock worth $2,332,000 after purchasing an additional 692,220 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Blend Labs in the first quarter worth about $1,538,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Blend Labs by 977.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 409,217 shares of the company’s stock worth $1,330,000 after purchasing an additional 371,233 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Company Profile

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.