Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos Sells 56,490 Shares

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 56,490 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the completion of the sale, the director now owns 331,130 shares of the company’s stock, valued at approximately $1,821,215. This trade represents a 14.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Blend Labs Trading Down 2.0 %

NYSE BLND opened at $5.08 on Friday. Blend Labs, Inc. has a 12 month low of $1.85 and a 12 month high of $5.53. The stock’s fifty day moving average price is $4.30 and its 200-day moving average price is $3.53. The stock has a market cap of $1.30 billion, a P/E ratio of -14.93 and a beta of 1.33.

Analysts Set New Price Targets

A number of brokerages recently commented on BLND. The Goldman Sachs Group upped their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. UBS Group lifted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group increased their price target 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blend Labs presently has an average rating of “Moderate Buy” and an average price target of $4.79.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Blend Labs by 3,799.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company’s stock worth $1,546,000 after buying an additional 638,102 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Blend Labs during the second quarter valued at approximately $809,000. Rhumbline Advisers raised its position in Blend Labs by 4,370.6% in the second quarter. Rhumbline Advisers now owns 273,423 shares of the company’s stock worth $645,000 after acquiring an additional 267,307 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Blend Labs by 8.6% during the 2nd quarter. Acadian Asset Management LLC now owns 780,274 shares of the company’s stock worth $1,840,000 after acquiring an additional 62,000 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position in shares of Blend Labs by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after acquiring an additional 6,988 shares during the period. Institutional investors 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.