Insider Selling at Blend Labs, Inc. Raises Attention

Blend Labs, Inc. (NYSE:BLND) has recently made headlines following a significant insider trading activity. On Thursday, October 10th, Winnie Ling, an insider at the company, sold a total of 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.43, resulting in a total transaction value of $68,600.

After this sale, Winnie Ling now holds 259,169 shares of Blend Labs, which is valued at around $888,949.67. This recent transaction didn't significantly alter her ownership, reflecting a 0.00% change in her stock position. The details of this transaction have been publicly filed with the U.S. Securities and Exchange Commission (SEC) for transparency.

Winnie Ling has been active in managing her shares recently, with several notable trades. On September 26th, she sold 10,000 shares at an average price of $4.06, amounting to $40,600. Additionally, on September 12th, she sold another 20,000 shares at an average price of $3.33 for a total of $66,600.

Market Performance of Blend Labs

As of the latest trading session, Blend Labs shares opened at $3.64. The company's market capitalization stands at approximately $925.43 million, with a price-to-earnings (P/E) ratio of -7.43 and a beta value of 1.15. The stock has demonstrated a 50-day moving average price of $3.62 and a 200-day moving average price of $3.03. In the past year, Blend Labs has experienced a low of $1.15 and a high of $4.25.

In its most recent earnings report released on August 8th, Blend Labs announced a loss of $0.06 per share for the quarter, surpassing analysts' expectations of a loss of $0.10 by $0.04. The company reported revenues totaling $40.48 million, exceeding the anticipated $39.50 million. Analysts project that Blend Labs will finish the current fiscal year with an earnings per share estimate of -0.27.

Institutional Investor Activity in Blend Labs

Recent trends indicate varying activities among institutional investors regarding Blend Labs. Berylson Capital Partners LLC established a new position in the company with an investment of $52,000 during the fourth quarter. G2 Investment Partners Management LLC also initiated a new stake worth about $956,000 in the same quarter.

Furthermore, EP Wealth Advisors LLC increased its holdings in Blend Labs by 6.7% during the fourth quarter, now owning 182,003 shares valued at $464,000 after acquiring an additional 11,448 shares. Cannon Global Investment Management LLC entered the scene in the first quarter with a new investment of about $65,000, while Mirae Asset Global Investments Co. Ltd. enhanced its stake by 15.2%, owning 291,502 shares worth $947,000 after adding 38,479 shares.

Currently, 52.56% of Blend Labs stock is held by institutional investors, showcasing a strong backing.

Analyst Ratings and Price Targets

Market analysts have provided varied ratings and price targets for Blend Labs. For instance, William Blair upgraded the company from a 'market perform' to an 'outperform' rating in a report published on August 9th. The Goldman Sachs Group raised its target price for Blend Labs from $3.00 to $3.40, giving the stock a 'buy' rating on the same day.

Additionally, Canaccord Genuity Group elevated Blend Labs from a 'hold' to a 'buy' rating, adjusting their price target from $3.00 to $4.75. Keefe, Bruyette & Woods likewise lifted their price target to $3.25, maintaining a 'market perform' rating.

Overall, one investment analyst has rated Blend Labs with a 'hold' while five analysts suggest a 'buy' rating, resulting in an average recommendation of 'Moderate Buy' with a price target of $3.93 according to MarketBeat.

About Blend Labs, Inc.

Blend Labs, Inc. is a company focused on providing cloud-based software solutions for financial service providers in the United States. It operates its business in two key segments: the Blend Platform and Title365. The Blend Builder Platform offers a variety of products designed to facilitate smooth digital consumer experiences for services like mortgages, credit lines, personal loans, and deposit accounts. The company also delivers mortgage-related products aimed at assisting clients throughout their homeownership journeys.

Insider, Trading, Blend