Blend Labs (NYSE:BLND) Sets New 12-Month Low – Here’s Why

Shares of Blend Labs, Inc. (NYSE:BLND) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.07 and last traded at $2.0950, with a volume of 6525125 shares. The stock had previously closed at $2.38.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, January 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price target on shares of Blend Labs in a report on Tuesday, October 28th. Finally, Wall Street Zen upgraded Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Blend Labs presently has an average rating of “Hold” and an average price target of $4.80.

Blend Labs Price Performance

The stock has a market cap of $544.18 million, a price-to-earnings ratio of -20.95 and a beta of 1.23. The firm has a 50 day simple moving average of $3.01 and a two-hundred day simple moving average of $3.29.

Insiders Place Their Bets

In related news, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $3.06, for a total transaction of $76,500.00. Following the completion of the transaction, the insider owned 649,824 shares in the company, valued at approximately $1,988,461.44. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 35.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ShawSpring Partners LLC increased its position in shares of Blend Labs by 10.4% in the 3rd quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock valued at $35,918,000 after buying an additional 929,566 shares in the last quarter. Whitebark Investors LP lifted its holdings in Blend Labs by 14.7% during the third quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock worth $20,317,000 after acquiring an additional 712,315 shares in the last quarter. Mirabella Financial Services LLP grew its stake in Blend Labs by 64.5% in the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock valued at $9,650,000 after acquiring an additional 1,036,777 shares during the period. Marshall Wace LLP increased its holdings in shares of Blend Labs by 157.6% in the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after acquiring an additional 1,543,220 shares in the last quarter. Finally, Prospect Capital Advisors LLC raised its position in shares of Blend Labs by 338.2% during the third quarter. Prospect Capital Advisors LLC now owns 1,820,150 shares of the company’s stock worth $6,644,000 after purchasing an additional 1,404,750 shares during the period. 52.56% of the stock is owned by institutional investors.

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.