Canaccord Genuity Group upgraded shares of Blend Labs (NYSE:BLND – Free Report) from a hold rating to a buy rating in a research report report published on Monday morning, Marketbeat reports. The firm currently has $4.75 target price on the stock, up from their prior target price of $3.00.
Several other brokerages have also commented on BLND. Keefe, Bruyette & Woods upped their price target 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. The Goldman Sachs Group increased their target price on Blend Labs from $3.00 to $3.40 and gave the stock a buy rating in a research report on Friday, August 9th. Canaccord Genuity Group reissued a hold rating and set a $3.00 price target on shares of Blend Labs in a research report on Wednesday, May 8th. Finally, William Blair upgraded Blend Labs from a market perform rating to an outperform rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $3.93.
Read Our Latest Stock Report on Blend Labs
Blend Labs Price Performance
Insider Activity at Blend Labs
In other Blend Labs news, insider Nima Ghamsari sold 81,434 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $2.93, for a total transaction of $238,601.62. Following the transaction, the insider now owns 2,103,516 shares in the company, valued at $6,163,301.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.83% of the stock is owned by insiders.
Institutional Trading of Blend Labs
A number of hedge funds have recently made changes to their positions in the company. Truist Financial Corp purchased a new position in shares of Blend Labs in the fourth quarter valued at $255,000. Victory Capital Management Inc. boosted its position in Blend Labs by 24.2% in the 4th quarter. Victory Capital Management Inc. now owns 23,812 shares of the company’s stock valued at $61,000 after buying an additional 4,633 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Blend Labs during the fourth quarter valued at about $132,000. AMG National Trust Bank purchased a new stake in shares of Blend Labs during the fourth quarter worth about $37,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Blend Labs in the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.
About Blend Labs
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.
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