Blend Labs (NYSE:BLND) Given New $6.50 Price Target at Wells Fargo & Company

Blend Labs (NYSE:BLND) had its price objective raised by analysts at Wells Fargo & Company from $4.50 to $6.50 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 23.57% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.00 to $4.75 in a report on Monday, August 12th. The Goldman Sachs Group lifted their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.79.

Blend Labs Stock Performance

BLND traded up $0.06 on Thursday, hitting $5.26. The company had a trading volume of 52,448 shares, compared to its average volume of 2,336,603. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -15.65 and a beta of 1.33. The stock has a fifty day moving average price of $4.13 and a 200-day moving average price of $3.44. Blend Labs has a 12-month low of $1.51 and a 12-month high of $5.40.

Insider Buying and Selling at Blend Labs

In other news, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now owns 387,620 shares of the company’s stock, valued at $1,938,100. This represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oxana Tkach sold 18,324 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 88,677 shares in the company, valued at approximately $459,346.86. This trade represents a 17.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,348 shares of company stock worth $501,449. Insiders own 13.21% of the company’s stock.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in shares of 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 during the period. ClariVest Asset Management LLC raised its position in Blend Labs by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after purchasing an additional 6,988 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs in the 2nd quarter valued at about $31,000. Xponance Inc. purchased a new position in shares of Blend Labs in the 2nd quarter valued at about $35,000. Finally, EP Wealth Advisors LLC grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds 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.