Blend Labs, Inc. (NYSE:BLND) Insider Sells $246,977.15 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 100,807 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $2.45, for a total value of $246,977.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Nima Ghamsari also recently made the following trade(s):

• On Friday, March 22nd, Nima Ghamsari sold 81,700 shares of Blend Labs stock. The stock was sold at an average price of $2.99, for a total value of $244,283.00.

Blend Labs Trading Up 3.3 %

NYSE:BLND traded up $0.08 during mid-day trading on Friday, hitting $2.48. The company’s stock had a trading volume of 578,643 shares, compared to its average volume of 1,686,907. Blend Labs, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 34.81, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a fifty day moving average of $2.78 and a 200-day moving average of $2.21.

Blend Labs (NYSE:BLND) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $36.10 million during the quarter, compared to analyst estimates of $37.52 million. Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. On average, equities research analysts expect that Blend Labs, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

BLND has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on shares of Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, March 18th. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $1.85 to $2.65 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.06.

Hedge Funds Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of BLND. Formation8 GP LLC bought a new position in shares of Blend Labs during the fourth quarter worth $41,362,000. Citigroup Inc. increased its stake in shares of Blend Labs by 327,281.9% during the 3rd quarter. Citigroup Inc. now owns 379,763 shares of the company’s stock worth $520,000 after purchasing an additional 379,647 shares during the last quarter. G2 Investment Partners Management LLC acquired a new position in shares of Blend Labs during the 4th quarter worth about $956,000. EP Wealth Advisors LLC increased its stake in shares of Blend Labs by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 182,003 shares of the company’s stock worth $464,000 after purchasing an additional 11,448 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Blend Labs during the 4th quarter worth about $255,000. 52.56% of the stock is owned by institutional investors.

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.