Timothy J. Mayopoulos Sells 42,721 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total transaction of $213,605.00. Following the sale, the director now directly owns 387,620 shares of the company’s stock, valued at $1,938,100. This represents a 9.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Blend Labs Trading Down 0.2 %

Shares of BLND opened at $5.20 on Friday. The firm has a 50-day moving average price of $3.93 and a 200 day moving average price of $3.32. Blend Labs, Inc. has a 12-month low of $1.21 and a 12-month high of $5.29. The firm has a market capitalization of $1.33 billion, a P/E ratio of -15.29 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their target price on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.46.

Institutional Trading of Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in BLND. Dark Forest Capital Management LP purchased a new position in Blend Labs in the second quarter worth approximately $31,000. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter valued at about $35,000. Caxton Associates LP acquired a new position in Blend Labs in the first quarter valued at about $60,000. Virtu Financial LLC purchased a new position in Blend Labs during the third quarter worth about $63,000. Finally, SG Americas Securities LLC acquired a new position in shares of Blend Labs in the 1st quarter worth approximately $70,000. 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.