Blend Labs, Inc. (NYSE:BLND) Insider Sells $66,600.00 in Stock

Blend Labs, Inc. (NYSE:BLND) 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 sale, the insider now directly owns 286,416 shares in the company, valued at $953,765.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Blend Labs Stock Performance

Shares of BLND opened at $3.91 on Monday. The firm has a market capitalization of $986.80 million, a price-to-earnings ratio of -6.74 and a beta of 1.15. The stock’s fifty day moving average is $3.26 and its 200-day moving average is $2.91. Blend Labs, Inc. has a one year low of $1.10 and a one year high of $4.22.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $40.48 million for the quarter, compared to the consensus estimate of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. Analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Blend Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs in the fourth quarter valued at $26,000. Dark Forest Capital Management LP acquired a new stake in Blend Labs in the 2nd quarter valued at about $31,000. AMG National Trust Bank bought a new position in shares of Blend Labs during the 4th quarter valued at about $37,000. Xponance Inc. acquired a new position in shares of Blend Labs in the 2nd quarter worth approximately $35,000. Finally, Caxton Associates LP bought a new stake in shares of Blend Labs in the 1st quarter worth approximately $60,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLND has been the topic of several research reports. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $4.75 in a research report on Monday, August 12th. Keefe, Bruyette & Woods increased their target price on Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Blend Labs has a consensus rating of “Moderate Buy” and a consensus price target of $3.93.

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.