Blend Labs, Inc. (NYSE: BLND – Get a rating) Chairman Timothy J. Mayopoulos sold 8,610 shares of the company in a transaction that took place on Wednesday, October 19. The shares were sold at an average price of $1.97, for a total transaction of $16,961.70. Following completion of the transaction, the president now owns 559,884 shares of the company, valued at approximately $1,102,971.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website.
Blend Labs Stock Performance
Action Blend Labs traded down $0.02 during Friday’s midday session, hitting $1.92. The company’s stock had a trading volume of 1,279,360 shares, compared to an average volume of 2,232,856. The company has a market capitalization of $426.73 million, a price-earnings ratio of -0.63 and a beta of 0.68. The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $3.18. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt ratio of 0.77. Blend Labs, Inc. has a 12-month low of $1.80 and a 12-month high of $16.26.
Mixing laboratories (NYSE: BLND – Get a rating) last released its quarterly earnings data on Monday, August 15. The company reported ($0.32) EPS for the quarter, missing analyst consensus estimates of ($0.23) by ($0.09). The company posted revenue of $65.54 million in the quarter, versus analyst estimates of $59.96 million. Blend Labs had a negative return on equity of 42.53% and a negative net margin of 228.19%. The company’s revenue for the quarter increased by 104.4% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of ($0.48). Sell-side analysts expect Blend Labs, Inc. to post -1.04 EPS for the current fiscal year.
Hedge funds weigh on Blend Labs
A number of hedge funds have recently increased or reduced their stakes in the company. Royal Bank of Canada increased its holdings of Blend Labs shares by 418.5% in the first quarter. Royal Bank of Canada now owns 6,009 shares of the company valued at $34,000 after acquiring an additional 4,850 shares during the period. CTC Capital Management LLC acquired a new position in shares of Blend Labs during the first quarter worth $60,000. Quantbot Technologies LP acquired a new position in shares of Blend Labs during the first quarter worth $63,000. Solstein Capital LLC acquired a new position in shares of Blend Labs during the first quarter worth $68,000. Finally, Walleye Capital LLC acquired a new position in shares of Blend Labs during the second quarter at a value of $28,000. Institutional investors and hedge funds own 59.45% of the company’s shares.
Analyst upgrades and downgrades
BLND has been the subject of a number of analyst reports. Canaccord Genuity Group lowered its price target on Blend Labs shares from $5.00 to $4.00 and placed a “hold” rating on the stock in a Friday, Aug. 19 research note. Piper Sandler raised her price target on Blend Labs shares from $2.50 to $3.20 and gave the company a “neutral” rating in a Tuesday, Aug. 16 research note. Goldman Sachs Group lowered its price target on Blend Labs shares from $5.25 to $3.25 and placed a “buy” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “downgrade” note on Blend Labs stock in a Monday, July 25 research note. Finally, Canaccord Genuity Group lowered its price target on Blend Labs shares from $5.00 to $4.00 in a Friday, August 19 research note. Seven equity research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, Blend Labs has an average rating of “Hold” and a consensus target price of $4.21.
About Blend Labs
Blend Labs, Inc provides cloud-based software platform solutions for financial services companies in the United States. It operates in two segments, Blend Platform and Title365. The company offers a range of white label products for mortgages, home equity loans and lines of credit, auto loans, personal loans, credit cards and deposit accounts.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to firstname.lastname@example.org.
Before you consider Blend Labs, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and Blend Labs didn’t make the list.
Although Blend Labs currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.