Blend Labs, Inc. (NYSE:BLND) Insider Sells $111,900.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the transaction, the insider now directly owns 866,759 shares of the company’s stock, valued at approximately $3,233,011.07. This trade represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Brian Kneafsey also recently made the following trade(s):

• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $4.27, for a total transaction of $128,100.00.
• On Tuesday, December 17th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00.
• On Tuesday, December 10th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $5.12, for a total transaction of $153,600.00.

Blend Labs Stock Performance

NYSE:BLND opened at $3.36 on Friday. The company has a market cap of $859.92 million, a price-to-earnings ratio of -9.88 and a beta of 1.38. The stock’s fifty day moving average price is $4.59 and its two-hundred day moving average price is $3.77. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53.

Hedge Funds Weigh In On Blend Labs

Large investors have recently made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in Blend Labs in the second quarter worth about $31,000. Xponance Inc. bought a new position in shares of Blend Labs in the 2nd quarter valued at about $35,000. Virtu Financial LLC acquired a new stake in shares of Blend Labs during the 3rd quarter worth approximately $63,000. RiverPark Advisors LLC bought a new stake in shares of Blend Labs during the third quarter worth approximately $77,000. Finally, FMR LLC lifted its holdings in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after buying an additional 3,576 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.75 target price on shares of Blend Labs in a report on Friday, December 20th. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. UBS Group lifted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities assumed coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

About Blend Labs

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.