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

Blend Labs, Inc. (NYSE:BLND) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.91.

Several equities analysts have recently commented on the company. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. JMP Securities initiated coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. UBS Group cut their target price on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods decreased their price target on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research note on Monday, March 3rd.

Blend Labs Trading Up 3.6 %

Shares of BLND stock opened at $3.57 on Tuesday. The firm has a fifty day simple moving average of $3.65 and a 200-day simple moving average of $3.98. The company has a market capitalization of $925.70 million, a PE ratio of -10.48 and a beta of 1.40. Blend Labs has a twelve month low of $2.08 and a twelve month high of $5.53.

Insider Buying and Selling at Blend Labs

In related news, insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the sale, the insider now owns 836,759 shares of the company’s stock, valued at approximately $2,853,348.19. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 150,000 shares of company stock worth $561,900 over the last ninety days. Company insiders own 13.21% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Blend Labs by 6.3% during the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after acquiring an additional 283,207 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Blend Labs during the 3rd quarter valued at about $676,000. Advantage Alpha Capital Partners LP bought a new position in Blend Labs in the 3rd quarter worth about $3,253,000. Charles Schwab Investment Management Inc. increased its stake in shares of Blend Labs by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock valued at $6,161,000 after purchasing an additional 120,152 shares during the period. Finally, Barclays PLC raised its holdings in shares of Blend Labs by 263.1% during the third quarter. Barclays PLC now owns 407,774 shares of the company’s stock valued at $1,530,000 after buying an additional 295,460 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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.