Insider Buying: Blend Labs, Inc. (NYSE:BLND) Insider Acquires $16,602.25 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari acquired 6,265 shares of Blend Labs stock in a transaction that occurred on Friday, April 12th. The shares were purchased at an average price of $2.65 per share, with a total value of $16,602.25. Following the purchase, the insider now owns 402,716 shares in the company, valued at $1,067,197.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Amir Jafari also recently made the following trade(s):

• On Wednesday, March 13th, Amir Jafari acquired 5,555 shares of Blend Labs stock. The shares were purchased at an average price of $3.00 per share, with a total value of $16,665.00.

Blend Labs Stock Up 1.3 %

NYSE:BLND opened at $2.41 on Thursday. The firm has a market capitalization of $607.44 million, a P/E ratio of -3.13 and a beta of 1.00. Blend Labs, Inc. has a 1-year low of $0.53 and a 1-year high of $3.40. The company’s fifty day moving average price is $2.82 and its 200-day moving average price is $2.17. The company has a debt-to-equity ratio of 34.81, a current ratio of 5.38 and a quick ratio of 5.38.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $36.10 million for 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%. As a group, equities research analysts anticipate that Blend Labs, Inc. will post -0.47 EPS for the current year.

Institutional Trading of Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in BLND. JPL Wealth Management LLC acquired a new stake in shares of Blend Labs in the fourth quarter worth $26,000. Walleye Capital LLC purchased a new stake in Blend Labs during the second quarter worth $28,000. Hsbc Holdings PLC purchased a new stake in Blend Labs during the third quarter worth $28,000. Centiva Capital LP purchased a new stake in Blend Labs during the fourth quarter worth $28,000. Finally, CI Private Wealth LLC purchased a new stake in Blend Labs during the fourth quarter worth $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

BLND has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective 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. The Goldman Sachs Group upped their price target on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a research note on Friday, March 15th. Wells Fargo & Company upgraded shares of Blend Labs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $1.50 to $3.50 in a research note on Wednesday, December 20th. Finally, Canaccord Genuity Group upped their price target on shares of Blend Labs from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Blend Labs currently has a consensus rating of “Hold” and an average price target of $3.06.

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.