Blend Labs (NYSE:BLND) Reaches New 52-Week High – What’s Next?

Blend Labs, Inc. (NYSE:BLND) reached a new 52-week high on Monday . The stock traded as high as $5.32 and last traded at $5.20, with a volume of 100493 shares trading hands. The stock had previously closed at $5.20.

Analyst Ratings Changes

Several research firms have recently issued reports on BLND. UBS Group increased their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group raised Blend Labs from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.00 to $4.75 in a research report on Monday, August 12th. Canaccord Genuity Group upped their target price on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Blend Labs has a consensus rating of “Moderate Buy” and a consensus target price of $4.46.

Blend Labs Stock Performance

The stock has a 50 day moving average of $3.93 and a 200 day moving average of $3.32.

Insider Buying and Selling

In other Blend Labs news, Director Timothy J. Mayopoulos sold 42,721 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $5.00, for a total value of $213,605.00. Following the completion of the sale, the director now directly owns 387,620 shares in the company, valued at $1,938,100. This represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3.43, for a total value of $68,600.00. Following the transaction, the insider now directly owns 259,169 shares in the company, valued at approximately $888,949.67. The trade was a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,024 shares of company stock valued at $406,531 in the last three months. 13.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently modified their holdings of BLND. SG Americas Securities LLC purchased a new stake in shares of Blend Labs during the first quarter valued at $70,000. Vanguard Group Inc. boosted its holdings in shares of Blend Labs by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,249,111 shares of the company’s stock worth $30,060,000 after buying an additional 46,526 shares during the period. Caxton Associates LP purchased a new position in shares of Blend Labs in the first quarter worth approximately $60,000. Bayesian Capital Management LP acquired a new stake in shares of Blend Labs during the first quarter valued at approximately $102,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Blend Labs by 977.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 409,217 shares of the company’s stock valued at $1,330,000 after acquiring an additional 371,233 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

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.