Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos Sells 42,721 Shares

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now owns 387,620 shares in the company, valued at approximately $1,938,100. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Blend Labs Stock Performance

Shares of BLND opened at $5.20 on Friday. Blend Labs, Inc. has a 52 week low of $1.21 and a 52 week high of $5.29. The stock’s 50-day moving average price is $3.93 and its 200-day moving average price is $3.31.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Blend Labs from $3.50 to $4.50 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group boosted their price target on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.46.

Institutional Trading of Blend Labs

A number of hedge funds have recently modified their holdings of BLND. SG Americas Securities LLC purchased a new stake in shares of Blend Labs in the first quarter worth about $70,000. Vanguard Group Inc. raised its holdings in Blend Labs by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after purchasing an additional 46,526 shares during the period. EP Wealth Advisors LLC raised its holdings in Blend Labs by 8.1% in the 1st quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock worth $639,000 after purchasing an additional 14,754 shares during the period. Caxton Associates LP acquired a new position in Blend Labs in the 1st quarter worth about $60,000. Finally, Bayesian Capital Management LP acquired a new position in Blend Labs in the 1st quarter worth about $102,000. Hedge funds and other 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.