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

Shares of Blend Labs, Inc. (NYSE:BLND) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.46.

BLND has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, 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.

Blend Labs Stock Up 9.7 %

Shares of BLND stock opened at $4.97 on Wednesday. The company’s fifty day simple moving average is $3.83 and its two-hundred day simple moving average is $3.26. Blend Labs has a 52 week low of $1.18 and a 52 week high of $4.98. The stock has a market cap of $1.27 billion, a P/E ratio of -14.62 and a beta of 1.16.

Insider Buying and Selling at Blend Labs

In other news, insider Winnie Ling sold 20,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $3.33, for a total transaction of $66,600.00. Following the transaction, the insider now owns 286,416 shares of the company’s stock, valued at approximately $953,765.28. This represents a 6.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 54,303 shares of company stock valued at $192,926 in the last three months. Company insiders own 13.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in Blend Labs during the second quarter valued at approximately $31,000. Xponance Inc. purchased a new stake in shares of Blend Labs during the 2nd quarter worth $35,000. Caxton Associates LP bought a new stake in Blend Labs during the first quarter valued at about $60,000. RiverPark Advisors LLC purchased a new position in Blend Labs in the third quarter valued at about $77,000. Finally, SG Americas Securities LLC bought a new position in Blend Labs in the first quarter worth 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.