Blend Labs, Inc. (BLND) – What Are Investment Firms Saying About This Stock?

Shares of Blend Labs, Inc. (NYSE:BLND) have earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.82.

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a report on Friday, August 7th. Weiss Ratings cut shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Citizens Jmp reissued a “market outperform” rating and issued a $4.00 price target on shares of Blend Labs in a research report on Tuesday, July 21st. Canaccord Genuity Group dropped their price target on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $1.18 on Wednesday. The business has a 50-day moving average of $1.26 and a 200 day moving average of $1.51. Blend Labs has a 12 month low of $0.88 and a 12 month high of $3.62. The stock has a market capitalization of $277.90 million, a price-to-earnings ratio of -13.05 and a beta of 1.08.

Insider Transactions at Blend Labs

In other Blend Labs news, insider Srinivasan Venkatramani sold 74,705 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $1.43, for a total value of $106,828.15. Following the sale, the insider owned 236,563 shares of the company’s stock, valued at $338,285.09. This trade represents a 24.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nima Ghamsari sold 27,775 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $0.92, for a total transaction of $25,553.00. Following the completion of the sale, the insider directly owned 7,750,693 shares in the company, valued at approximately $7,130,637.56. This trade represents a 0.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,382 shares of company stock worth $231,260 in the last ninety days. 40.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors and hedge funds have recently modified their holdings of BLND. Capricorn Fund Managers Ltd acquired a new stake in Blend Labs during the first quarter worth about $11,049,000. Sei Investments Co. boosted its stake in Blend Labs by 99.0% in the first quarter. Sei Investments Co. now owns 258,688 shares of the company’s stock valued at $440,000 after acquiring an additional 128,677 shares during the period. Squarepoint Ops LLC acquired a new position in Blend Labs in the second quarter valued at approximately $212,000. Rice Hall James & Associates LLC boosted its stake in Blend Labs by 14.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company’s stock valued at $1,711,000 after acquiring an additional 123,699 shares during the period. Finally, Irenic Capital Management LP grew its holdings in shares of Blend Labs by 3.6% during the second quarter. Irenic Capital Management LP now owns 2,284,101 shares of the company’s stock valued at $3,906,000 after purchasing an additional 79,901 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Company Profile

Blend Labs, Inc develops cloud-based software that helps financial institutions digitize and streamline lending and banking processes. Its platform is designed to support customer applications, document collection, underwriting workflows, compliance requirements and other steps involved in delivering financial products.

The company’s solutions cover areas including mortgage lending, consumer loans, deposit accounts and other retail banking services. Blend provides configurable tools intended to help banks, credit unions, fintech companies and other lenders create digital customer experiences while connecting front-end applications with back-office systems.

Blend was founded in 2012 and is headquartered in San Francisco, California.