Winnie Ling Sells 20,000 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.43, for a total transaction of $68,600.00. Following the completion of the sale, the insider now owns 259,169 shares of the company’s stock, valued at approximately $888,949.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Winnie Ling also recently made the following trade(s):

• On Thursday, September 26th, Winnie Ling sold 10,000 shares of Blend Labs stock. The shares were sold at an average price of $4.06, for a total transaction of $40,600.00.
• On Thursday, September 12th, Winnie Ling sold 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $3.64 on Friday. The company has a fifty day moving average of $3.62 and a 200-day moving average of $3.02. The company has a market capitalization of $925.43 million, a PE ratio of -7.43 and a beta of 1.15. Blend Labs, Inc. has a 52-week low of $1.15 and a 52-week high of $4.25.

Blend Labs (NYSE:BLND) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $39.50 million. On average, equities analysts forecast that Blend Labs, Inc. will post -0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLND has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a research note on Monday, August 12th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $4.75 in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price objective on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Finally, William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Blend Labs presently has an average rating of “Moderate Buy” and a consensus target price of $3.93.

Institutional Trading of Blend Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in Blend Labs in the third quarter valued at $1,803,000. SG Americas Securities LLC acquired a new stake in Blend Labs in the third quarter valued at $660,000. EP Wealth Advisors LLC increased its holdings in Blend Labs by 8.2% in the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after purchasing an additional 16,084 shares during the period. Algert Global LLC increased its holdings in Blend Labs by 27.6% in the second quarter. Algert Global LLC now owns 86,156 shares of the company’s stock valued at $203,000 after purchasing an additional 18,656 shares during the period. Finally, ShawSpring Partners LLC increased its holdings in Blend Labs by 58.7% in the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after purchasing an additional 2,485,283 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.