Blend Labs, Inc. (NYSE:BLND) Insider Nima Ghamsari Sells 100,807 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 100,807 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total value of $246,977.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Nima Ghamsari also recently made the following trade(s):

• On Friday, March 22nd, Nima Ghamsari sold 81,700 shares of Blend Labs stock. The stock was sold at an average price of $2.99, for a total value of $244,283.00.

Blend Labs Trading Up 3.1 %

Shares of BLND stock opened at $2.48 on Friday. Blend Labs, Inc. has a 52-week low of $0.53 and a 52-week high of $3.40. The company has a debt-to-equity ratio of 34.81, a quick ratio of 5.38 and a current ratio of 5.38. The firm has a market capitalization of $623.82 million, a PE ratio of -3.21 and a beta of 1.00. The stock has a fifty day simple moving average of $2.76 and a two-hundred day simple moving average of $2.22.

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

Wall Street Analyst Weigh In

BLND has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a research note on Monday, March 18th. The Goldman Sachs Group upped their price objective on Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Canaccord Genuity Group upped their price objective on Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.06.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently bought and sold shares of BLND. JPL Wealth Management LLC purchased a new stake in Blend Labs in the 4th quarter worth $26,000. AMG National Trust Bank purchased a new position in shares of Blend Labs during the fourth quarter valued at about $37,000. Thrive Capital Management LLC purchased a new position in shares of Blend Labs during the third quarter valued at about $46,000. Moneta Group Investment Advisors LLC purchased a new position in shares of Blend Labs during the third quarter valued at about $52,000. Finally, Berylson Capital Partners LLC purchased a new position in shares of Blend Labs during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.