Blend Labs (NYSE:BLND) Price Target Cut to $3.50 by Analysts at Keefe, Bruyette & Woods

Blend Labs (NYSE:BLND) had its price target trimmed by Keefe, Bruyette & Woods from $3.85 to $3.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities analysts have also weighed in on BLND. UBS Group decreased their target price on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday. Canaccord Genuity Group lowered their price objective on Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday. The Goldman Sachs Group lifted their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, JMP Securities started coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blend Labs currently has an average rating of “Moderate Buy” and a consensus target price of $4.91.

Blend Labs Stock Down 4.8 %

NYSE BLND opened at $2.98 on Monday. Blend Labs has a 52 week low of $2.08 and a 52 week high of $5.53. The business’s fifty day simple moving average is $3.82 and its 200-day simple moving average is $4.01. The firm has a market cap of $762.67 million, a PE ratio of -8.76 and a beta of 1.36.

Insider Transactions at Blend Labs

In related news, Director Timothy J. Mayopoulos sold 56,490 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.50, for a total value of $310,695.00. Following the transaction, the director now owns 331,130 shares of the company’s stock, valued at $1,821,215. This represents a 14.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total value of $153,600.00. Following the sale, the insider now directly owns 937,439 shares of the company’s stock, valued at $4,799,687.68. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,737 shares of company stock valued at $1,196,254. 13.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Several hedge funds and other institutional investors have recently made changes to their positions in BLND. Mackenzie Financial Corp boosted its holdings in Blend Labs by 140.0% in the fourth quarter. Mackenzie Financial Corp now owns 35,067 shares of the company’s stock valued at $148,000 after purchasing an additional 20,456 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Blend Labs by 107.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 374,682 shares of the company’s stock valued at $1,577,000 after buying an additional 194,310 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Blend Labs in the 4th quarter valued at $1,278,000. Washington Harbour Partners LP acquired a new stake in Blend Labs during the 4th quarter worth $1,126,000. Finally, Whitebark Investors LP purchased a new stake in Blend Labs in the fourth quarter valued at $10,895,000. 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.