Nima Ghamsari Sells 100,807 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 100,807 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $2.45, for a total transaction of $246,977.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Nima Ghamsari also recently made the following trade(s):

• On Friday, March 22nd, Nima Ghamsari sold 81,700 shares of Blend Labs stock. The stock was sold at an average price of $2.99, for a total transaction of $244,283.00.

Blend Labs Price Performance

Shares of NYSE:BLND opened at $2.48 on Friday. The firm has a 50 day moving average of $2.76 and a 200-day moving average of $2.23. The stock has a market capitalization of $625.08 million, a PE ratio of -3.22 and a beta of 1.00. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 34.81. Blend Labs, Inc. has a 12 month low of $0.53 and a 12 month high of $3.40.

Blend Labs (NYSE:BLND) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $36.10 million for the quarter, compared to analyst estimates of $37.52 million. Blend Labs had a negative net margin of 118.15% and a negative return on equity of 595.99%. On average, equities research analysts predict that Blend Labs, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BLND. The Goldman Sachs Group increased their price target on shares of Blend Labs from $1.60 to $3.10 and gave the company a “buy” rating in a research note on Friday, March 15th. Canaccord Genuity Group increased their price objective on shares of Blend Labs from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Monday, March 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blend Labs from $1.85 to $2.65 and gave the company a “market perform” rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.06.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the business. JPL Wealth Management LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at $26,000. AMG National Trust Bank acquired a new position in shares of Blend Labs during the 4th quarter valued at $37,000. Thrive Capital Management LLC acquired a new position in shares of Blend Labs during the 3rd quarter valued at $46,000. Moneta Group Investment Advisors LLC acquired a new position in Blend Labs during the third quarter worth $52,000. Finally, Berylson Capital Partners LLC purchased a new stake in shares of Blend Labs in the fourth quarter valued at about $52,000. 52.56% of the stock is 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.