Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Winnie Ling sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the completion of the sale, the insider now owns 259,169 shares in the company, valued at approximately $888,949.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Winnie Ling also recently made the following trade(s):
NYSE BLND traded up $0.12 on Friday, reaching $3.64. 927,944 shares of the company's stock traded hands, compared to its average volume of 2,312,019. Blend Labs, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $4.25. The firm has a market cap of $925.43 million, a price-to-earnings ratio of -7.43 and a beta of 1.15. The stock has a 50 day moving average price of $3.62 and a 200-day moving average price of $3.03.
Blend Labs (NYSE:BLND - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $40.48 million during the quarter, compared to analyst estimates of $39.50 million. As a group, equities research analysts anticipate that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Blend Labs from $3.00 to $3.25 and gave the stock a "market perform" rating in a research note on Monday, August 12th. Canaccord Genuity Group upgraded shares of Blend Labs from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $3.00 to $4.75 in a research note on Monday, August 12th. Canaccord Genuity Group raised Blend Labs from a "hold" rating to a "buy" rating and upped their target price for the company from $3.00 to $4.75 in a research report on Monday, August 12th. William Blair raised Blend Labs from a "market perform" rating to an "outperform" rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group increased their price objective on Blend Labs from $3.00 to $3.40 and gave the company a "buy" rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3.93.
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A number of hedge funds have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC grew its holdings in Blend Labs by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company's stock valued at $595,000 after purchasing an additional 6,988 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Blend Labs by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company's stock worth $464,000 after buying an additional 11,448 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs during the 2nd quarter valued at approximately $31,000. Xponance Inc. acquired a new stake in Blend Labs in the 2nd quarter valued at $35,000. Finally, Caxton Associates LP acquired a new stake in Blend Labs in the 1st quarter valued at $60,000. 52.56% of the stock is owned by hedge funds and other institutional investors.
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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