Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos Sells 56,490 Shares

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 56,490 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.50, for a total value of $310,695.00. Following the completion of the transaction, the director now owns 331,130 shares of the company’s stock, valued at $1,821,215. The trade was a 14.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Blend Labs Trading Down 0.6 %

BLND stock opened at $5.09 on Wednesday. The firm has a market cap of $1.30 billion, a PE ratio of -14.97 and a beta of 1.33. The stock has a 50-day moving average price of $4.24 and a 200-day moving average price of $3.51. Blend Labs, Inc. has a 1-year low of $1.58 and a 1-year high of $5.53.

Analysts Set New Price Targets

BLND has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blend Labs presently has a consensus rating of “Moderate Buy” and an average target price of $4.79.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently added to or reduced their stakes in the business. ShawSpring Partners LLC grew its position in shares of Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after buying an additional 2,485,283 shares during the period. State Street Corp grew its holdings in Blend Labs by 57.6% in the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock worth $20,482,000 after purchasing an additional 1,995,362 shares during the period. Geode Capital Management LLC grew its holdings in Blend Labs by 6.3% in the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after purchasing an additional 283,207 shares during the period. Principal Financial Group Inc. increased its stake in Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after purchasing an additional 2,390,337 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC raised its holdings in shares of Blend Labs by 452.7% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock valued at $7,109,000 after purchasing an additional 1,552,865 shares during the period. 52.56% of the stock is currently owned by institutional investors.

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.