Brokerages Set Blend Labs, Inc. (NYSE:BLND) Price Target at $4.79

Blend Labs, Inc. (NYSE:BLND) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $5.11.

BLND has been the subject of several research reports. UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday, November 7th. JMP Securities assumed coverage on Blend Labs in a research report on Wednesday. They issued an “outperform” rating and a $7.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Insider Transactions at Blend Labs

In other Blend Labs news, insider Winnie Ling sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the transaction, the insider now owns 259,169 shares of the company’s stock, valued at $888,949.67. This trade represents a 7.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Kneafsey sold 30,000 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total transaction of $151,500.00. Following the completion of the sale, the insider now directly owns 907,439 shares in the company, valued at approximately $4,582,566.95. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,838 shares of company stock worth $1,050,644 in the last three months. 13.21% of the stock is currently owned by company insiders.

Institutional Trading of Blend Labs

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Blend Labs by 3,799.4% during the second quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company’s stock valued at $1,546,000 after acquiring an additional 638,102 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Blend Labs during the 2nd quarter valued at $809,000. Rhumbline Advisers raised its position in shares of Blend Labs by 4,370.6% in the 2nd quarter. Rhumbline Advisers now owns 273,423 shares of the company’s stock valued at $645,000 after acquiring an additional 267,307 shares during the period. Acadian Asset Management LLC boosted its position in shares of Blend Labs by 8.6% during the second quarter. Acadian Asset Management LLC now owns 780,274 shares of the company’s stock worth $1,840,000 after purchasing an additional 62,000 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Blend Labs by 2.9% during 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. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Stock Performance

Shares of NYSE BLND opened at $4.43 on Friday. The firm has a fifty day moving average of $4.43 and a 200 day moving average of $3.60. Blend Labs has a one year low of $2.08 and a one year high of $5.53. The firm has a market cap of $1.13 billion, a PE ratio of -13.03 and a beta of 1.33.

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.