Blend Labs’ (BLND) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Blend Labs (NYSE:BLND) in a research note released on Friday,Benzinga reports. Canaccord Genuity Group currently has a $5.75 price target on the stock.

BLND has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Blend Labs Stock Down 0.7 %

Shares of Blend Labs stock opened at $4.40 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of -12.94 and a beta of 1.33. Blend Labs has a twelve month low of $2.08 and a twelve month high of $5.53. The business has a 50-day moving average price of $4.44 and a 200 day moving average price of $3.61.

Insiders Place Their Bets

In related news, insider Winnie Ling sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $4.06, for a total value of $40,600.00. Following the completion of the transaction, the insider now directly owns 279,169 shares in the company, valued at approximately $1,133,426.14. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Mayopoulos sold 42,721 shares of Blend Labs stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the sale, the director now owns 387,620 shares in the company, valued at $1,938,100. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,535 shares of company stock valued at $1,033,518 in the last three months. 13.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BLND. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the 2nd quarter valued at $31,000. Xponance Inc. acquired a new position in Blend Labs in the 2nd quarter valued at about $35,000. Virtu Financial LLC purchased a new stake in Blend Labs during the third quarter worth about $63,000. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs during the third quarter worth about $77,000. Finally, FMR LLC boosted its stake in shares of Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares during the period. Hedge funds and other 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.