Blend Labs (NYSE:BLND) Trading Down 12% – Time to Sell?

Shares of Blend Labs, Inc. (NYSE:BLND) were down 12% during mid-day trading on Tuesday . The company traded as low as $2.07 and last traded at $2.0950. Approximately 5,366,262 shares traded hands during trading, an increase of 70% from the average daily volume of 3,159,124 shares. The stock had previously closed at $2.38.

Analysts Set New Price Targets

Several equities analysts have weighed in on BLND shares. Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, January 21st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a research report on Tuesday, October 28th. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, UBS Group lowered their price target on Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.80.

Blend Labs Stock Performance

The stock has a market cap of $544.17 million, a price-to-earnings ratio of -20.95 and a beta of 1.24. The business’s fifty day simple moving average is $3.03 and its 200 day simple moving average is $3.30.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 25,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $3.06, for a total value of $76,500.00. Following the sale, the insider owned 649,824 shares in the company, valued at approximately $1,988,461.44. This represents a 3.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 35.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in Blend Labs during the 3rd quarter worth $32,000. Captrust Financial Advisors acquired a new position in shares of Blend Labs during the second quarter valued at $35,000. South Shore Capital Advisors bought a new position in shares of Blend Labs during the fourth quarter worth about $36,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Blend Labs in the 2nd quarter worth about $37,000. Finally, Savvy Advisors Inc. acquired a new position in Blend Labs during the 3rd quarter valued at about $37,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Company Profile

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.