Blend Labs (NYSE:BLND) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Blend Labs (NYSE:BLND) from a sell rating to a hold rating in a report released on Sunday morning.

A number of other research analysts have also commented on BLND. UBS Group dropped their price objective on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Keefe, Bruyette & Woods lowered their price target on Blend Labs from $4.00 to $3.75 and set a “market perform” rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 price objective on shares of Blend Labs in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.80.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $3.02 on Friday. The firm’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.48. Blend Labs has a 12 month low of $2.50 and a 12 month high of $5.53. The stock has a market capitalization of $783.15 million, a price-to-earnings ratio of -29.90 and a beta of 1.23.

Insider Activity at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the transaction, the insider owned 687,909 shares of the company’s stock, valued at $2,297,616.06. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 35.52% of the stock is owned by company insiders.

Institutional Trading of Blend Labs

A number of large investors have recently made changes to their positions in BLND. Revolve Wealth Partners LLC acquired a new stake in shares of Blend Labs during the 4th quarter worth about $132,000. Teacher Retirement System of Texas acquired a new stake in Blend Labs during the first quarter worth approximately $105,000. Cerity Partners LLC purchased a new stake in Blend Labs in the 1st quarter worth approximately $62,000. Arizona State Retirement System raised its holdings in Blend Labs by 6.1% in the 1st quarter. Arizona State Retirement System now owns 61,485 shares of the company’s stock valued at $206,000 after acquiring an additional 3,559 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Blend Labs by 504.2% during the 1st quarter. CWM LLC now owns 38,661 shares of the company’s stock worth $130,000 after purchasing an additional 32,262 shares during the period. Institutional investors and hedge funds 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.