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 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 sale, the insider now directly owns 806,759 shares of the company’s stock, valued at $2,896,264.81. The trade was a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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 stock was 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 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 stock was 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 Trading Down 0.7 %

Shares of Blend Labs stock opened at $3.70 on Friday. The company has a fifty day simple moving average of $4.46 and a 200-day simple moving average of $3.87. The stock has a market cap of $945.66 million, a price-to-earnings ratio of -10.87 and a beta of 1.38. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in shares of Blend Labs in the second quarter valued at approximately $31,000. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter valued at $35,000. Virtu Financial LLC acquired a new stake in Blend Labs during the 3rd quarter worth $63,000. RiverPark Advisors LLC purchased a new position in Blend Labs during the 3rd quarter worth $77,000. Finally, FMR LLC increased its stake 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 purchasing 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

Several research analysts recently commented on BLND shares. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research note on Friday, December 20th. JMP Securities initiated coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 target price on the stock. Wells Fargo & Company lifted their price target 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. UBS Group boosted their price target on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.11.

Blend Labs Company Profile

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.