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 Blend Labs stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total value of $128,100.00. Following the sale, the insider now directly owns 896,759 shares of the company’s stock, valued at $3,829,160.93. This trade represents a 3.24 % decrease in their position. 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 transaction 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 transaction of $153,600.00.

Blend Labs Stock Down 8.8 %

Blend Labs stock traded down $0.37 during mid-day trading on Thursday, hitting $3.84. The company had a trading volume of 4,899,229 shares, compared to its average volume of 2,411,210. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The business has a fifty day moving average of $4.56 and a 200 day moving average of $3.71. The stock has a market cap of $982.77 million, a price-to-earnings ratio of -11.29 and a beta of 1.33.

Institutional Trading of Blend Labs

A number of large investors have recently bought and sold shares of the business. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the second quarter valued at about $31,000. Xponance Inc. purchased a new stake in Blend Labs during the 2nd quarter valued at approximately $35,000. Virtu Financial LLC acquired a new stake in Blend Labs during the 3rd quarter worth approximately $63,000. RiverPark Advisors LLC purchased a new position in shares of Blend Labs in the 3rd quarter valued at approximately $77,000. Finally, FMR LLC increased its holdings in shares of 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.

Analysts Set New Price Targets

A number of research firms have recently commented on BLND. 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 for the company. 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 research note on Thursday, November 7th. UBS Group boosted their target price on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research note on Friday, December 20th. Two research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.