Blend Labs, Inc. (NYSE:BLND) Insider Acquires $16,602.25 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari purchased 6,265 shares of the stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $2.65 per share, with a total value of $16,602.25. Following the transaction, the insider now owns 402,716 shares in the company, valued at $1,067,197.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Amir Jafari also recently made the following trade(s):

• On Wednesday, March 13th, Amir Jafari purchased 5,555 shares of Blend Labs stock. The shares were acquired at an average cost of $3.00 per share, with a total value of $16,665.00.

Blend Labs Trading Down 4.3 %

NYSE BLND traded down $0.11 during trading on Monday, reaching $2.42. 2,070,445 shares of the stock traded hands, compared to its average volume of 1,759,351. The firm has a market cap of $609.96 million, a price-to-earnings ratio of -3.10 and a beta of 1.00. The stock’s 50-day moving average price is $2.84 and its 200 day moving average price is $2.16. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 34.81. Blend Labs, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $3.40.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The firm had revenue of $36.10 million during the quarter, compared to analysts’ expectations of $37.52 million. Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. Analysts predict that Blend Labs, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Blend Labs by 418.5% in the first quarter. Royal Bank of Canada now owns 6,009 shares of the company’s stock valued at $34,000 after buying an additional 4,850 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in shares of Blend Labs in the first quarter valued at approximately $63,000. Walleye Capital LLC acquired a new position in shares of Blend Labs in the second quarter valued at approximately $28,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Blend Labs in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BLND shares. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research note on Friday, March 15th. Wells Fargo & Company raised shares of Blend Labs from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1.50 to $3.50 in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.06.

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.