Blend Labs, Inc. (NYSE:BLND) Director Sells $213,605.00 in Stock

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 42,721 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total transaction of $213,605.00. Following the sale, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Blend Labs Stock Down 0.2 %

BLND opened at $5.20 on Friday. Blend Labs, Inc. has a 52 week low of $1.21 and a 52 week high of $5.29. The business’s 50 day moving average is $3.93 and its two-hundred day moving average is $3.32. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -15.29 and a beta of 1.16.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Blend Labs during the 1st quarter worth $70,000. Vanguard Group Inc. grew its holdings in shares of Blend Labs by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after buying an additional 46,526 shares during the last quarter. EP Wealth Advisors LLC increased its position in Blend Labs by 8.1% in the 1st quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock valued at $639,000 after acquiring an additional 14,754 shares during the period. Caxton Associates LP purchased a new stake in Blend Labs during the 1st quarter valued at approximately $60,000. Finally, Bayesian Capital Management LP purchased a new stake in Blend Labs during the 1st quarter valued at approximately $102,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLND has been the topic of a number of research reports. The Goldman Sachs Group increased 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. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $4.75 in a research report on Monday, August 12th. Canaccord Genuity Group upped their price objective on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised 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, UBS Group upped their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.46.

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.