Wells Fargo & Company Lowers Blend Labs (NYSE:BLND) Price Target to $5.00

Blend Labs (NYSE:BLND) had its price target reduced by Wells Fargo & Company from $6.00 to $5.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on BLND. Keefe, Bruyette & Woods decreased their target price on Blend Labs from $3.85 to $3.50 and set a “market perform” rating for the company in a research report on Monday, March 3rd. UBS Group lowered their target price on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Canaccord Genuity Group reduced their price target on shares of Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.70.

Blend Labs Trading Up 2.8 %

NYSE:BLND opened at $3.28 on Tuesday. Blend Labs has a 12 month low of $2.08 and a 12 month high of $5.53. The stock has a market capitalization of $851.69 million, a price-to-earnings ratio of -9.65 and a beta of 1.29. The firm has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.89.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now owns 776,759 shares in the company, valued at $2,897,311.07. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.21% of the company’s stock.

Institutional Trading of Blend Labs

A number of hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC purchased a new stake in shares of Blend Labs during the 1st quarter valued at $36,000. JPL Wealth Management LLC bought a new position in Blend Labs during the fourth quarter valued at about $42,000. Balyasny Asset Management L.P. purchased a new stake in Blend Labs during the fourth quarter worth about $46,000. Olympiad Research LP bought a new stake in Blend Labs in the fourth quarter worth about $47,000. Finally, Pallas Capital Advisors LLC purchased a new position in Blend Labs in the first quarter valued at about $51,000. 52.56% of the stock is currently 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.