Insider Crystal Sumner of Blend Labs, Inc. (NYSE:BLND – Get Rating) sold 20,289 shares of the company in a trade dated Friday, May 20. The stock was sold at an average price of $3.31, for a total transaction of $67,156.59. Following the completion of the transaction, the insider now directly owns 654,749 shares of the company, valued at approximately $2,167,219.19. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website.

Shares of NYSE:BLND traded down $0.14 during Tuesday’s trading, hitting $3.23. 2,191,146 shares of shares traded in hands, compared to its average volume of 2,374,256. The company has a quick ratio of 10.21, a current ratio of 10.38 and a leverage ratio of 0.30 . The company has a market capitalization of $710.52 million and a price-earnings ratio of -3.17. The company has a fifty-day moving average price of $4.81 and a two-hundred-day moving average price of $7.46. Blend Labs, Inc. has a 52-week low of $2.72 and a 52-week high of $21.04.

Blend Labs (NYSE:BLND – Get Rating) last released its quarterly results on Thursday, May 12. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Blend Labs had a negative return on equity of 44.18% and a negative net margin of 79.46%. The company posted revenue of $71.52 million in the quarter, compared to $64.38 million expected by analysts. On average, equity research analysts expect Blend Labs, Inc. to post -0.83 EPS for the current fiscal year.

Several hedge funds have recently changed their positions in BLND. Royal Bank of Canada acquired a new position in Blend Labs in the third quarter worth approximately $32,000. Morgan Stanley bought a new stake in Blend Labs during the third quarter worth about $80,000. WBH Advisory Inc. acquired a new stake in Blend Labs during the fourth quarter valued at approximately $76,000. CIBC Asset Management Inc acquired a new stake in Blend Labs during the fourth quarter valued at approximately $77,000. Finally, CTC Capital Management LLC purchased a new stake in shares of Blend Labs during the first quarter worth approximately $60,000. 52.80% of the shares are currently held by hedge funds and other institutional investors.

Several research analysts have recently commented on BLND shares. Keefe, Bruyette & Woods began covering Blend Labs stocks in a research note on Monday, February 14. They issued a “market performance” rating and a price target of $11.75 on the stock. Zacks Investment Research downgraded shares of Blend Labs from a “buy” rating to a “hold” rating in a Tuesday, May 17 research note. KeyCorp cut its price target on Blend Labs shares from $10.00 to $6.00 and set an “overweight” rating on the stock in a Friday, April 1 research report. Truist Financial cut its price target on Blend Labs shares from $7.50 to $5.50 and set a “hold” rating on the stock in a Friday, April 1 research report. Finally, Canaccord Genuity Group downgraded Blend Labs shares from a “buy” rating to a “hold” rating and reduced its target price for the company from $28.00 to $5.00 in a research report from the Friday, April 1. Nine research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.45.

About Blend Labs (Get a rating)

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.

Further reading

Insider buying and selling by quarter for Blend Labs (NYSE:BLND)



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