Blend Labs, Inc. (NYSE:BLND) Insider Winnie Ling Sells 10,000 Shares

Blend Labs, Inc. (NYSE:BLND) insider Winnie Ling sold 10,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $4.06, for a total transaction of $40,600.00. Following the sale, the insider now owns 279,169 shares of the company’s stock, valued at $1,133,426.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Winnie Ling also recently made the following trade(s):

• On Thursday, September 12th, Winnie Ling sold 20,000 shares of Blend Labs stock. The stock was sold at an average price of $3.33, for a total transaction of $66,600.00.

Blend Labs Stock Down 3.0 %

Shares of NYSE BLND traded down $0.12 on Friday, reaching $3.91. 2,000,806 shares of the company’s stock traded hands, compared to its average volume of 2,370,495. Blend Labs, Inc. has a 12 month low of $1.14 and a 12 month high of $4.25. The business’s 50 day simple moving average is $3.47 and its two-hundred day simple moving average is $2.97. The company has a market cap of $994.08 million, a price-to-earnings ratio of -6.95 and a beta of 1.15.

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

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Blend Labs by 24.2% during the fourth quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after buying an additional 4,633 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Blend Labs by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after buying an additional 6,988 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Blend Labs by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock valued at $464,000 after buying an additional 11,448 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs during the second quarter valued at approximately $31,000. Finally, Xponance Inc. purchased a new stake in shares of Blend Labs during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

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

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.