Blend Labs, Inc. (NYSE:BLND - Get Free Report) Director Timothy J. Mayopoulos sold 56,490 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.50, for a total transaction of $310,695.00. Following the completion of the transaction, the director now directly owns 331,130 shares in the company, valued at $1,821,215. This trade represents a 14.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Blend Labs Trading Down 0.6 %
Shares of BLND opened at $5.09 on Wednesday. The company has a market capitalization of $1.30 billion, a PE ratio of -14.97 and a beta of 1.33. The business's 50 day moving average is $4.24 and its 200 day moving average is $3.51. Blend Labs, Inc. has a 12-month low of $1.58 and a 12-month high of $5.53.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on BLND shares. Keefe, Bruyette & Woods increased their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Blend Labs from $3.40 to $3.90 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their price objective on shares of Blend Labs from $4.75 to $5.75 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective 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. Finally, UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $4.79.
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Institutional Investors Weigh In On Blend Labs
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the second quarter worth approximately $31,000. Xponance Inc. bought a new position in Blend Labs in the second quarter worth approximately $35,000. Virtu Financial LLC purchased a new position in Blend Labs in the third quarter valued at about $63,000. RiverPark Advisors LLC bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $77,000. Finally, FMR LLC lifted its holdings in shares of Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company's stock valued at $98,000 after purchasing an additional 3,576 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.
About Blend Labs
(
Get Free Report)
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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