Shares of Blend Labs, Inc. (NYSE:BLND – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.91.
A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday, February 28th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. JMP Securities began coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th.
Read Our Latest Stock Analysis on Blend Labs
Blend Labs Price Performance
Insiders Place Their Bets
In other news, insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the sale, the insider now directly owns 907,439 shares in the company, valued at approximately $4,582,566.95. This represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 214,247 shares of company stock worth $885,559 in the last 90 days. 13.21% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Blend Labs
A number of hedge funds have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in Blend Labs during the fourth quarter valued at approximately $42,000. Balyasny Asset Management L.P. purchased a new position in shares of Blend Labs in the fourth quarter worth $46,000. Olympiad Research LP acquired a new stake in shares of Blend Labs in the fourth quarter worth $47,000. Trellis Wealth Advisors LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $57,000. Finally, BBR Partners LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $60,000. 52.56% of the stock is currently owned by institutional investors.
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.
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