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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now directly owns 776,759 shares in the company, valued at $2,897,311.07. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, January 21st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $3.59, for a total transaction of $107,700.00.
• 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 transaction 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 transaction of $111,900.00.
• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was 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 stock was 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Trading Up 1.7 %

NYSE BLND traded up $0.07 on Thursday, hitting $3.96. 1,538,396 shares of the company’s stock were exchanged, compared to its average volume of 3,112,433. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The stock has a 50-day moving average of $4.40 and a 200-day moving average of $3.89. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -11.63 and a beta of 1.38.

Blend Labs (NYSE:BLND) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $45.18 million during the quarter, compared to analyst estimates of $41.30 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. As a group, analysts predict that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Blend Labs

Several hedge funds and other institutional investors have recently made changes to their positions in BLND. Xponance Inc. bought a new position in Blend Labs in the 2nd quarter valued at approximately $35,000. Virtu Financial LLC acquired a new position in shares of Blend Labs during the third quarter worth $63,000. Summit Trail Advisors LLC lifted its stake in shares of Blend Labs by 38.1% in the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock valued at $76,000 after acquiring an additional 4,953 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs during the 3rd quarter valued at $77,000. Finally, FMR LLC grew its position in Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after acquiring an additional 3,576 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.75 target price on shares of Blend Labs in a report on Friday, December 20th. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target for the company. Wells Fargo & Company raised their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group upped their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.