Blend Labs (NYSE:BLND) Stock Rating Upgraded by Citizens Jmp

Blend Labs (NYSE:BLND) was upgraded by analysts at Citizens Jmp to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

BLND has been the subject of several other research reports. UBS Group raised their price target 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. Canaccord Genuity Group boosted their target price on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research note 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 research note on Thursday, December 5th. JMP Securities began coverage on Blend Labs in a research report on Wednesday. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Blend Labs Trading Up 2.6 %

Shares of BLND traded up $0.12 on Wednesday, reaching $4.82. 63,938 shares of the company’s stock traded hands, compared to its average volume of 2,365,633. Blend Labs has a 52-week low of $2.08 and a 52-week high of $5.53. The stock has a market cap of $1.23 billion, a PE ratio of -14.18 and a beta of 1.33. The stock’s 50 day simple moving average is $4.41 and its two-hundred day simple moving average is $3.59.

Insiders Place Their Bets

In other Blend Labs news, Director Timothy J. Mayopoulos sold 42,721 shares of the firm’s 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 sale, the director now owns 387,620 shares of the company’s stock, valued at $1,938,100. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Winnie Ling sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total value of $68,600.00. Following the transaction, the insider now directly owns 259,169 shares of the company’s stock, valued at $888,949.67. The trade was a 7.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,838 shares of company stock valued at $1,050,644 over the last three months. Insiders own 13.21% of the company’s stock.

Institutional Trading of Blend Labs

Several large investors have recently added to or reduced their stakes in the stock. Advantage Alpha Capital Partners LP purchased a new stake in shares of Blend Labs in the 3rd quarter worth about $3,253,000. SG Americas Securities LLC purchased a new position in shares of Blend Labs during the 3rd quarter worth approximately $660,000. Fullcircle Wealth LLC purchased a new position in shares of Blend Labs in the 3rd quarter valued at approximately $508,000. Charles Schwab Investment Management Inc. boosted its position in shares of Blend Labs by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,643,051 shares of the company’s stock valued at $6,161,000 after purchasing an additional 120,152 shares in the last quarter. Finally, ShawSpring Partners LLC raised its holdings in Blend Labs by 58.7% in the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after purchasing an additional 2,485,283 shares in the last quarter. 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.