Blend Labs, Inc. (NYSE:BLND) Stock Has Consensus Target Price of $2.82

Shares of Blend Labs, Inc. (NYSE:BLND) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2.82.

Several research analysts have commented on the company. Citigroup restated a “market outperform” rating on shares of Blend Labs in a research note on Tuesday, July 21st. Canaccord Genuity Group decreased their price target on Blend Labs from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Wells Fargo & Company lowered their price target on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Citizens Jmp restated a “market outperform” rating and issued a $4.00 price objective on shares of Blend Labs in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday.

Insider Activity at Blend Labs

In other Blend Labs news, insider Nima Ghamsari sold 21,009 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $1.19, for a total value of $25,000.71. Following the completion of the transaction, the insider directly owned 7,850,361 shares of the company’s stock, valued at $9,341,929.59. This trade represents a 0.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Srinivasan Venkatramani sold 74,705 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $1.43, for a total transaction of $106,828.15. Following the completion of the transaction, the insider directly owned 236,563 shares of the company’s stock, valued at approximately $338,285.09. The trade was a 24.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 40.30% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

Large investors have recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC lifted its position in Blend Labs by 15.6% during the fourth quarter. Kingsview Wealth Management LLC now owns 98,660 shares of the company’s stock valued at $300,000 after purchasing an additional 13,330 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Blend Labs by 25.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 67,224 shares of the company’s stock worth $108,000 after buying an additional 13,428 shares during the last quarter. Lexington Hill Partners LLC bought a new position in shares of Blend Labs in the 4th quarter worth $42,000. Essential Partners LLC raised its position in shares of Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after buying an additional 15,673 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Blend Labs by 201.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 26,519 shares of the company’s stock valued at $81,000 after buying an additional 17,733 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Blend Labs Price Performance

Blend Labs stock opened at $1.08 on Friday. The firm has a market capitalization of $256.61 million, a P/E ratio of -12.05 and a beta of 1.09. Blend Labs has a one year low of $1.06 and a one year high of $3.86. The business has a fifty day moving average price of $1.52 and a 200-day moving average price of $1.60.

About Blend Labs

Blend Labs, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to simplify and digitize consumer lending and banking processes, helping institutions manage applications, verification, underwriting, account opening and related workflows through online and mobile channels.

The company’s product offerings support mortgage lending, consumer lending and deposit accounts. Its solutions include digital application and account-opening tools, income and asset verification, loan processing and closing capabilities, and configurable technology that financial institutions can use to create and manage digital banking experiences.