Blend Labs, Inc. (NYSE:BLND) Insider Sells $244,283.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 81,700 shares of Blend Labs stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $2.99, for a total transaction of $244,283.00. Following the transaction, the insider now directly owns 34,774 shares of the company’s stock, valued at approximately $103,974.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nima Ghamsari also recently made the following trade(s):

• On Wednesday, January 24th, Nima Ghamsari sold 97,657 shares of Blend Labs stock. The stock was sold at an average price of $2.52, for a total value of $246,095.64.

Blend Labs Price Performance

Shares of NYSE:BLND opened at $3.16 on Thursday. Blend Labs, Inc. has a twelve month low of $0.53 and a twelve month high of $3.40. The stock’s 50 day moving average is $2.74 and its 200-day moving average is $2.00. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 34.81. The firm has a market capitalization of $795.22 million, a price-to-earnings ratio of -4.10 and a beta of 0.92.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. The firm had revenue of $36.10 million for the quarter, compared to the consensus estimate of $37.52 million. Sell-side analysts forecast that Blend Labs, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Formation8 GP LLC bought a new stake in Blend Labs during the 4th quarter worth approximately $41,362,000. Vanguard Group Inc. boosted its position in shares of Blend Labs by 1,862.4% during the first quarter. Vanguard Group Inc. now owns 11,117,426 shares of the company’s stock valued at $63,369,000 after buying an additional 10,550,895 shares during the last quarter. MFN Partners Management LP bought a new stake in Blend Labs during the first quarter worth $28,500,000. State Street Corp grew its holdings in Blend Labs by 664.2% during the second quarter. State Street Corp now owns 2,870,893 shares of the company’s stock worth $6,775,000 after buying an additional 2,495,209 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Blend Labs by 111.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,740,619 shares of the company’s stock valued at $8,267,000 after acquiring an additional 1,968,921 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

BLND has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on Blend Labs from $1.85 to $2.65 and gave the company a “market perform” rating in a research note on Monday, March 18th. Wells Fargo & Company raised Blend Labs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $1.50 to $3.50 in a research note on Wednesday, December 20th. The Goldman Sachs Group raised their price objective on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Canaccord Genuity Group increased their target price on shares of Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Blend Labs has an average rating of “Hold” and a consensus price target of $3.06.

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.