Wells Fargo & Company Trims Blend Labs (NYSE:BLND) Target Price to $1.50

Blend Labs (NYSE:BLND – Get Rating) had its target price lowered by stock analysts at Wells Fargo & Company from $2.00 to $1.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 57.94% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Blend Labs from $1.30 to $1.40 and gave the stock a “market perform” rating in a research note on Thursday, March 9th. Canaccord Genuity Group dropped their price target on shares of Blend Labs from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Blend Labs has an average rating of “Hold” and an average target price of $3.36.

Blend Labs Price Performance

Shares of NYSE:BLND opened at $0.95 on Friday. Blend Labs has a 52 week low of $0.76 and a 52 week high of $7.38. The company has a debt-to-equity ratio of 1.23, a current ratio of 10.29 and a quick ratio of 10.29. The firm has a fifty day simple moving average of $1.65 and a two-hundred day simple moving average of $1.88.

Insider Buying and Selling at Blend Labs

In other Blend Labs news, insider Crystal Sumner sold 45,943 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $1.12, for a total value of $51,456.16. Following the completion of the sale, the insider now directly owns 455,237 shares of the company’s stock, valued at approximately $509,865.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently modified their holdings of BLND. Walleye Capital LLC bought a new stake in shares of Blend Labs in the 2nd quarter valued at about $28,000. Hsbc Holdings PLC bought a new position in shares of Blend Labs during the 3rd quarter worth approximately $28,000. Centiva Capital LP bought a new position in shares of Blend Labs during the 4th quarter worth approximately $28,000. Stegent Equity Advisors Inc. bought a new position in shares of Blend Labs during the 4th quarter worth approximately $29,000. Finally, Mackenzie Financial Corp bought a new position in shares of Blend Labs during the 2nd quarter worth approximately $30,000. Institutional investors own 60.42% of the company’s stock.

About Blend Labs

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Blend Labs, Inc provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts.