Blend Labs, Inc. (NYSE:BLND) Insider Sells $128,100.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $4.27, for a total value of $128,100.00. Following the transaction, the insider now directly owns 896,759 shares in the company, valued at $3,829,160.93. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 1.0 %

NYSE BLND opened at $3.80 on Friday. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The business has a 50-day moving average price of $4.58 and a 200-day moving average price of $3.73. The firm has a market cap of $972.53 million, a price-to-earnings ratio of -11.18 and a beta of 1.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new stake in shares of Blend Labs during the second quarter valued at approximately $31,000. Xponance Inc. bought a new stake in Blend Labs in the 2nd quarter valued at $35,000. Virtu Financial LLC purchased a new stake in Blend Labs in the 3rd quarter worth $63,000. RiverPark Advisors LLC bought a new position in shares of Blend Labs during the 3rd quarter valued at about $77,000. Finally, FMR LLC grew its position in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JMP Securities assumed coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price target on the stock. UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised 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. Finally, Keefe, Bruyette & Woods upped their price target on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.