Blend Labs (NYSE:BLND) Reaches New 52-Week Low – Time to Sell?

Shares of Blend Labs, Inc. (NYSE:BLND) reached a new 52-week low during trading on Thursday . The company traded as low as $2.49 and last traded at $2.4950, with a volume of 4897418 shares changing hands. The stock had previously closed at $2.72.

Analyst Ratings Changes

BLND has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, January 21st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.25 target price on shares of Blend Labs in a research report on Tuesday, October 28th. Finally, UBS Group dropped their price target on Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.80.

Blend Labs Price Performance

The firm has a market capitalization of $629.89 million, a PE ratio of -24.25 and a beta of 1.24. The company has a fifty day moving average of $3.07 and a 200-day moving average of $3.33.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $3.06, for a total transaction of $76,500.00. Following the completion of the sale, the insider directly owned 649,824 shares in the company, valued at $1,988,461.44. The trade was a 3.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 35.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntleigh Advisors Inc. grew its position in Blend Labs by 5.5% in the fourth quarter. Huntleigh Advisors Inc. now owns 182,575 shares of the company’s stock worth $555,000 after acquiring an additional 9,586 shares in the last quarter. PFG Advisors raised its holdings in shares of Blend Labs by 4.9% during the 4th quarter. PFG Advisors now owns 78,956 shares of the company’s stock valued at $240,000 after purchasing an additional 3,684 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blend Labs by 31.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,445 shares of the company’s stock valued at $321,000 after purchasing an additional 25,301 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Blend Labs by 27.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 45,225 shares of the company’s stock worth $137,000 after purchasing an additional 9,725 shares in the last quarter. Finally, Sippican Capital Advisors acquired a new position in Blend Labs during the fourth quarter worth $55,000. Institutional investors own 52.56% of the company’s stock.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.