Blend Labs (NYSE:BLND) Stock Rating Upgraded by Wall Street Zen

Blend Labs (NYSE:BLND) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and set a $5.25 price target on shares of Blend Labs in a report on Tuesday, October 28th. UBS Group reduced their price objective on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Blend Labs from $4.00 to $3.75 and set a “market perform” rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Blend Labs currently has an average rating of “Moderate Buy” and an average price target of $4.80.

Blend Labs Trading Down 3.7%

Shares of BLND opened at $3.00 on Friday. The stock’s 50-day moving average price is $3.54 and its two-hundred day moving average price is $3.47. Blend Labs has a 12 month low of $2.50 and a 12 month high of $5.53. The company has a market capitalization of $778.20 million, a PE ratio of -29.96 and a beta of 1.23.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total value of $83,500.00. Following the sale, the insider directly owned 687,909 shares of the company’s stock, valued at $2,297,616.06. The trade was a 3.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 35.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds have recently made changes to their positions in BLND. Arizona State Retirement System increased its position in shares of Blend Labs by 6.1% during the first quarter. Arizona State Retirement System now owns 61,485 shares of the company’s stock valued at $206,000 after buying an additional 3,559 shares during the period. PFG Advisors grew its stake in shares of Blend Labs by 7.3% in the 3rd quarter. PFG Advisors now owns 75,272 shares of the company’s stock valued at $275,000 after purchasing an additional 5,131 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Blend Labs by 0.5% in the first quarter. Deutsche Bank AG now owns 1,209,057 shares of the company’s stock valued at $4,050,000 after purchasing an additional 5,546 shares during the period. Quadrant Private Wealth Management LLC raised its stake in shares of Blend Labs by 7.8% during the first quarter. Quadrant Private Wealth Management LLC now owns 81,801 shares of the company’s stock worth $274,000 after purchasing an additional 5,892 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Blend Labs by 18.4% during the first quarter. Mackenzie Financial Corp now owns 41,511 shares of the company’s stock worth $139,000 after purchasing an additional 6,444 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.