Amir Jafari Acquires 6,265 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Amir Jafari purchased 6,265 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $16,664.90. Following the completion of the acquisition, the insider now directly owns 494,711 shares of the company’s stock, valued at $1,315,931.26. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, April 12th, Amir Jafari bought 6,265 shares of Blend Labs stock. The shares were bought at an average price of $2.65 per share, for a total transaction of $16,602.25.

Blend Labs Price Performance

Shares of BLND stock traded down $0.09 during trading hours on Friday, hitting $2.45. The company’s stock had a trading volume of 2,129,246 shares, compared to its average volume of 1,730,332. The business has a fifty day moving average of $2.68 and a 200-day moving average of $2.58. The stock has a market cap of $618.33 million, a price-to-earnings ratio of -4.22 and a beta of 1.14. Blend Labs, Inc. has a twelve month low of $0.85 and a twelve month high of $3.40. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 34.81.

Blend Labs (NYSE:BLND) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.03. The business had revenue of $34.95 million for the quarter, compared to analyst estimates of $33.94 million. Blend Labs had a negative net margin of 90.62% and a negative return on equity of 595.99%. As a group, equities research analysts anticipate that Blend Labs, Inc. will post -0.38 EPS for the current year.

Institutional Trading of Blend Labs

A number of hedge funds have recently bought and sold shares of the company. Center Lake Capital Management LLC acquired a new stake in Blend Labs during the first quarter worth approximately $894,000. Jacobs Levy Equity Management Inc. boosted its position in Blend Labs by 977.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 409,217 shares of the company’s stock worth $1,330,000 after acquiring an additional 371,233 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Blend Labs during the first quarter worth approximately $102,000. Caxton Associates LP acquired a new stake in Blend Labs during the first quarter worth approximately $60,000. Finally, EP Wealth Advisors LLC boosted its position in Blend Labs by 8.1% during the first quarter. EP Wealth Advisors LLC now owns 196,757 shares of the company’s stock worth $639,000 after acquiring an additional 14,754 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLND. Keefe, Bruyette & Woods upped their target price on shares of Blend Labs from $2.65 to $3.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Canaccord Genuity Group restated a “hold” rating and set a $3.00 target price on shares of Blend Labs in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group upped their target price on shares of Blend Labs from $1.60 to $3.10 and gave the stock a “buy” rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blend Labs currently has an average rating of “Hold” and an average price target of $3.15.

Blend Labs Company Profile

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.