Blend Labs (NYSE:BLND) Sets New 1-Year Low – Here’s Why

Blend Labs, Inc. (NYSE:BLND) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.49 and last traded at $2.4950, with a volume of 4897418 shares. The stock had previously closed at $2.72.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. UBS Group lowered their target price on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.80.

Blend Labs Trading Down 10.8%

The stock has a market capitalization of $629.89 million, a P/E ratio of -24.25 and a beta of 1.24. The business’s fifty day simple moving average is $3.07 and its two-hundred day simple moving average is $3.33.

Insiders Place Their Bets

In related news, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $3.06, for a total transaction of $76,500.00. Following the transaction, the insider directly owned 649,824 shares in the company, valued at $1,988,461.44. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 35.52% of the stock is currently owned by company insiders.

Institutional Trading of Blend Labs

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Blend Labs during the third quarter valued at approximately $32,000. Captrust Financial Advisors bought a new stake in Blend Labs in the 2nd quarter valued at $35,000. South Shore Capital Advisors acquired a new position in shares of Blend Labs in the 4th quarter valued at $36,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Blend Labs during the 2nd quarter worth about $37,000. Finally, Savvy Advisors Inc. acquired a new stake in shares of Blend Labs during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.