Amir Jafari Acquires 6,265 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari bought 6,265 shares of the company’s stock in a transaction on Friday, April 12th. The shares were acquired at an average price of $2.65 per share, with a total value of $16,602.25. Following the completion of the acquisition, the insider now directly owns 402,716 shares in the company, valued at approximately $1,067,197.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Amir Jafari also recently made the following trade(s):

• On Wednesday, March 13th, Amir Jafari purchased 5,555 shares of Blend Labs stock. The stock was acquired at an average price of $3.00 per share, for a total transaction of $16,665.00.

Blend Labs Price Performance

BLND stock opened at $2.41 on Thursday. Blend Labs, Inc. has a 52-week low of $0.53 and a 52-week high of $3.40. The stock’s fifty day simple moving average is $2.82 and its 200-day simple moving average is $2.17. 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 stock has a market capitalization of $607.44 million, a price-to-earnings ratio of -3.13 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Blend Labs

Several hedge funds have recently made changes to their positions in BLND. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs during the fourth quarter worth $26,000. Walleye Capital LLC purchased a new position in shares of Blend Labs in the 2nd quarter worth $28,000. Hsbc Holdings PLC purchased a new position in shares of Blend Labs in the 3rd quarter worth $28,000. Centiva Capital LP purchased a new position in shares of Blend Labs in the 4th quarter worth $28,000. Finally, CI Private Wealth LLC purchased a new position in shares of Blend Labs in the 4th quarter worth $32,000. Institutional investors and hedge funds 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.