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

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

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

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

Blend Labs Trading Down 3.0 %

Shares of NYSE BLND opened at $3.91 on Friday. The stock has a market cap of $994.08 million, a PE ratio of -6.74 and a beta of 1.15. Blend Labs, Inc. has a 12-month low of $1.14 and a 12-month high of $4.25. The company has a 50-day moving average of $3.49 and a 200 day moving average of $2.98.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 77.63%. The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

BLND has been the topic of several analyst reports. Keefe, Bruyette & Woods raised 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. Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.00 to $4.75 in a research note on Monday, August 12th. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. The Goldman Sachs Group lifted their price target on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blend Labs has a consensus rating of “Moderate Buy” and an average price target of $3.93.

Institutional Investors Weigh In On Blend Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLND. Victory Capital Management Inc. grew its holdings in shares of 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 purchased a new stake in shares of Blend Labs in the 4th quarter valued at approximately $132,000. Berylson Capital Partners LLC acquired a new position in shares of Blend Labs in the 4th quarter worth approximately $52,000. G2 Investment Partners Management LLC purchased a new position in shares of Blend Labs during the 4th quarter worth approximately $956,000. Finally, EP Wealth Advisors LLC increased its holdings in 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. Institutional investors and hedge funds own 52.56% of the company’s stock.

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.