Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells 20,000 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Winnie Ling sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the transaction, the insider now owns 259,169 shares in the company, valued at approximately $888,949.67. The trade was a 0.00 % decrease in their position. The sale 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 26th, Winnie Ling sold 10,000 shares of Blend Labs stock. The stock was sold at an average price of $4.06, for a total value of $40,600.00.
• 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 value of $66,600.00.

Blend Labs Trading Up 3.4 %

BLND opened at $3.64 on Friday. The company has a market cap of $925.43 million, a P/E ratio of -7.43 and a beta of 1.15. The business’s 50-day moving average price is $3.62 and its 200-day moving average price is $3.03. Blend Labs, Inc. has a 12 month low of $1.15 and a 12 month high of $4.25.

Blend Labs (NYSE:BLND) last announced its quarterly 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 business had revenue of $40.48 million for the quarter, compared to analysts’ expectations of $39.50 million. Equities research analysts forecast that Blend Labs, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently made changes to their positions in the company. Berylson Capital Partners LLC purchased a new position in Blend Labs during the fourth quarter valued at $52,000. G2 Investment Partners Management LLC bought a new stake in Blend Labs in the 4th quarter worth about $956,000. EP Wealth Advisors LLC grew its stake in shares of Blend Labs by 6.7% during 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 period. Cannon Global Investment Management LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Blend Labs by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,502 shares of the company’s stock valued at $947,000 after purchasing an additional 38,479 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. The Goldman Sachs Group raised their target price on Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.00 to $4.75 in a report on Monday, August 12th. Keefe, Bruyette & Woods lifted their price objective on Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $4.75 in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Blend Labs has an average rating of “Moderate Buy” and an average price target 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.