Blend Labs (NYSE:BLND) Trading Down 12% – Time to Sell?

Shares of Blend Labs, Inc. (NYSE:BLND) dropped 12% during mid-day trading on Tuesday . The company traded as low as $2.07 and last traded at $2.0950. Approximately 5,366,262 shares traded hands during trading, an increase of 70% from the average daily volume of 3,159,124 shares. The stock had previously closed at $2.38.

Analysts Set New Price Targets

BLND has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, January 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a research note 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. Finally, UBS Group decreased their target price on Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.80.

Blend Labs Trading Down 12.0%

The business’s fifty day simple moving average is $3.03 and its 200 day simple moving average is $3.30. The stock has a market cap of $544.17 million, a P/E ratio of -20.95 and a beta of 1.24.

Insider Buying and Selling

In other news, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $3.06, for a total value of $76,500.00. Following the completion of the sale, the insider directly owned 649,824 shares of the company’s stock, valued at approximately $1,988,461.44. This trade represents a 3.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 35.52% of the company’s stock.

Institutional Investors Weigh In On Blend Labs

Institutional investors have recently modified their holdings of the business. ShawSpring Partners LLC grew its holdings in Blend Labs by 10.4% during the 3rd quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock worth $35,918,000 after acquiring an additional 929,566 shares during the period. Whitebark Investors LP grew its position in shares of Blend Labs by 14.7% in the 3rd quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock valued at $20,317,000 after purchasing an additional 712,315 shares during the period. Mirabella Financial Services LLP boosted its holdings in shares of Blend Labs by 64.5% in the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock valued at $9,650,000 after buying an additional 1,036,777 shares during the period. Marshall Wace LLP increased its holdings in Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after purchasing an additional 1,543,220 shares in the last quarter. Finally, Prospect Capital Advisors LLC grew its holdings in shares of Blend Labs by 338.2% during the third quarter. Prospect Capital Advisors LLC now owns 1,820,150 shares of the company’s stock worth $6,644,000 after buying an additional 1,404,750 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Company Profile

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.