Brian Kneafsey Sells 30,000 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $3.59, for a total value of $107,700.00. Following the completion of the transaction, the insider now owns 806,759 shares of the company’s stock, valued at approximately $2,896,264.81. The trade was a 3.59 % 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, January 14th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.41, for a total value of $102,300.00.
• On Tuesday, January 7th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.73, for a total value of $111,900.00.
• 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 value 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 value 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 value of $153,600.00.

Blend Labs Stock Down 2.0 %

Shares of Blend Labs stock traded down $0.08 on Thursday, hitting $3.71. 1,832,460 shares of the company traded hands, compared to its average volume of 3,596,040. The company has a 50-day moving average price of $4.49 and a 200 day moving average price of $3.85. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53. The company has a market cap of $948.22 million, a PE ratio of -10.90 and a beta of 1.38.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $45.18 million for the quarter, compared to analysts’ expectations of $41.30 million. During the same period in the previous year, the company earned ($0.13) EPS. Equities research analysts anticipate that Blend Labs, Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on BLND shares. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group upped their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft acquired a new position in shares of Blend Labs during the fourth quarter valued at about $114,000. Revolve Wealth Partners LLC acquired a new position in shares of Blend Labs during the fourth quarter valued at about $132,000. JPMorgan Chase & Co. raised its position in shares of Blend Labs by 193.5% during the third quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company’s stock valued at $6,431,000 after buying an additional 1,130,706 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after buying an additional 2,390,337 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Blend Labs during the third quarter valued at about $2,463,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

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.