Blend Labs, Inc. (NYSE:BLND) Insider Sells $40,600.00 in Stock

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

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

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

Blend Labs Price Performance

BLND stock opened at $3.91 on Monday. The stock has a market capitalization of $986.80 million, a price-to-earnings ratio of -6.74 and a beta of 1.15. The company has a 50-day moving average of $3.49 and a two-hundred day moving average of $2.98. Blend Labs, Inc. has a 52-week low of $1.14 and a 52-week high of $4.25.

Blend Labs (NYSE:BLND) last posted its quarterly earnings data 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 business had revenue of $40.48 million during the quarter, compared to analysts’ expectations of $39.50 million. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 77.63%. Equities analysts expect that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a report on Friday, August 9th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. 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 report on Monday, August 12th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a report on Monday, August 12th. Finally, Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. One equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.93.

Institutional Investors Weigh In On Blend Labs

Several hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC raised its stake in Blend Labs by 8.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after purchasing an additional 16,084 shares during the last quarter. Algert Global LLC raised its position in shares of 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 buying an additional 18,656 shares during the last quarter. ShawSpring Partners LLC raised its position in shares of 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 buying an additional 2,485,283 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Blend Labs in the second quarter valued at about $211,000. Finally, Dark Forest Capital Management LP bought a new position in Blend Labs during the second quarter valued at about $31,000. 52.56% of the stock is owned by institutional investors.

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.