Blend Labs, Inc. (NYSE:BLND) Insider Oxana Tkach Sells 4,303 Shares

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,303 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $3.98, for a total transaction of $17,125.94. Following the sale, the insider now directly owns 88,651 shares of the company’s stock, valued at approximately $352,830.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Blend Labs Stock Up 1.0 %

Shares of BLND stock traded up $0.04 on Tuesday, reaching $3.90. The company had a trading volume of 2,037,230 shares, compared to its average volume of 2,361,489. The business’s 50-day moving average is $3.43 and its 200 day moving average is $2.95. The stock has a market capitalization of $984.27 million, a PE ratio of -6.65 and a beta of 1.15. Blend Labs, Inc. has a one year low of $1.10 and a one year high of $4.22.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $40.48 million during the quarter, compared to analyst estimates of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $4.75 in a research report on Monday, August 12th. The Goldman Sachs Group increased their target price on shares of Blend Labs from $3.00 to $3.40 and gave the stock a “buy” rating in a report on Friday, August 9th. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.75 in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Blend Labs from $3.00 to $3.25 and gave the stock a “market perform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.93.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLND. Dark Forest Capital Management LP bought a new position in Blend Labs in the 2nd quarter valued at approximately $31,000. Xponance Inc. bought a new position in Blend Labs in the 2nd quarter valued at approximately $35,000. Berylson Capital Partners LLC acquired a new stake in Blend Labs during the 4th quarter valued at approximately $52,000. Caxton Associates LP acquired a new stake in Blend Labs during the 1st quarter valued at approximately $60,000. Finally, Victory Capital Management Inc. increased its position in Blend Labs by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after purchasing an additional 4,633 shares during the period. Institutional investors own 52.56% of the company’s stock.

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.