Blend Labs, Inc. (NYSE:BLND) Insider Sells $17,125.94 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,303 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $3.98, for a total transaction of $17,125.94. Following the sale, the insider now owns 88,651 shares of the company’s stock, valued at approximately $352,830.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Blend Labs Price Performance

NYSE BLND opened at $4.03 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -6.95 and a beta of 1.15. The stock has a 50-day moving average of $3.47 and a two-hundred day moving average of $2.97. Blend Labs, Inc. has a 1-year low of $1.10 and a 1-year high of $4.25.

Blend Labs (NYSE:BLND) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm 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%. On average, analysts anticipate that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Institutional Trading of Blend Labs

Several hedge funds have recently modified their holdings of BLND. Victory Capital Management Inc. increased its holdings in Blend Labs by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock worth $61,000 after purchasing an additional 4,633 shares during the period. Jump Financial LLC acquired a new stake in Blend Labs in the fourth quarter valued at approximately $132,000. Berylson Capital Partners LLC purchased a new position in Blend Labs in the fourth quarter worth approximately $52,000. G2 Investment Partners Management LLC acquired a new position in Blend Labs during the 4th quarter worth approximately $956,000. Finally, EP Wealth Advisors LLC increased its position in shares of Blend Labs by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock valued at $464,000 after purchasing an additional 11,448 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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