Blend Labs (NYSE:BLND) PT Raised to $4.00 at UBS Group

Blend Labs (NYSE:BLND) had its target price upped by UBS Group from $3.00 to $4.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

BLND has been the topic of a number of other reports. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.00 to $4.75 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 stock a “buy” rating in a research report on Friday, August 9th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted 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 report on Monday, August 12th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and a consensus price target of $3.94.

Blend Labs Stock Down 2.9 %

Blend Labs stock opened at $3.35 on Wednesday. The firm has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $3.06. The firm has a market capitalization of $845.47 million, a price-to-earnings ratio of -5.78 and a beta of 1.15. Blend Labs has a 52-week low of $1.15 and a 52-week high of $4.25.

Blend Labs (NYSE:BLND) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. Research analysts expect that Blend Labs will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Winnie Ling sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the sale, the insider now owns 259,169 shares in the company, valued at approximately $888,949.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 54,303 shares of company stock worth $192,926 in the last ninety days. 11.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Blend Labs

A number of hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new position in shares of Blend Labs in the third quarter worth $1,803,000. SG Americas Securities LLC acquired a new position in Blend Labs during the third quarter worth $660,000. EP Wealth Advisors LLC increased its position in Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after buying an additional 16,084 shares during the last quarter. Algert Global LLC boosted its holdings in Blend Labs by 27.6% during the second quarter. Algert Global LLC now owns 86,156 shares of the company’s stock valued at $203,000 after acquiring an additional 18,656 shares during the period. Finally, ShawSpring Partners LLC boosted its holdings in Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after acquiring an additional 2,485,283 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.