Blend Labs, Inc. (NYSE:BLND – Get Free Report) insider Nima Ghamsari sold 81,700 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $2.99, for a total value of $244,283.00. Following the transaction, the insider now owns 34,774 shares in the company, valued at approximately $103,974.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Nima Ghamsari also recently made the following trade(s):
- On Wednesday, January 24th, Nima Ghamsari sold 97,657 shares of Blend Labs stock. The shares were sold at an average price of $2.52, for a total transaction of $246,095.64.
Blend Labs Stock Performance
BLND stock opened at $3.16 on Thursday. The stock’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.00. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 34.81. Blend Labs, Inc. has a 12-month low of $0.53 and a 12-month high of $3.40. The stock has a market capitalization of $795.22 million, a PE ratio of -4.10 and a beta of 0.92.
Hedge Funds Weigh In On Blend Labs
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Blend Labs by 24.2% during the fourth quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after purchasing an additional 4,633 shares during the last quarter. Royal Bank of Canada grew its position in Blend Labs by 418.5% in the 1st quarter. Royal Bank of Canada now owns 6,009 shares of the company’s stock worth $34,000 after purchasing an additional 4,850 shares during the period. JPMorgan Chase & Co. raised its stake in Blend Labs by 9.7% during the 4th quarter. JPMorgan Chase & Co. now owns 110,861 shares of the company’s stock valued at $159,000 after buying an additional 9,764 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Blend Labs during the 4th quarter valued at $26,000. Finally, First Republic Investment Management Inc. boosted its stake in shares of Blend Labs by 4.2% in the 1st quarter. First Republic Investment Management Inc. now owns 267,130 shares of the company’s stock worth $1,523,000 after buying an additional 10,731 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on BLND. The Goldman Sachs Group upped their price target on Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research note on Friday, March 15th. Canaccord Genuity Group increased their target price on Blend Labs from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, March 18th. Wells Fargo & Company raised Blend Labs from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $1.50 to $3.50 in a research report on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blend Labs from $1.85 to $2.65 and gave the company a “market perform” rating in a research report on Monday, March 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.06.
Check Out Our Latest Research Report on Blend Labs
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.
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