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, January 21st. The stock was sold at an average price of $3.59, for a total value of $107,700.00. Following the sale, the insider now owns 806,759 shares in the company, valued at $2,896,264.81. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock was 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 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

BLND stock traded down $0.08 on Thursday, reaching $3.71. The company had a trading volume of 1,832,460 shares, compared to its average volume of 3,596,040. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The company’s fifty day moving average is $4.49 and its 200 day moving average is $3.85. The company has a market cap of $948.22 million, a P/E ratio of -10.90 and a beta of 1.38.

Blend Labs (NYSE:BLND) last issued its quarterly earnings results 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 business had revenue of $45.18 million during the quarter, compared to the consensus estimate of $41.30 million. During the same period in the previous year, the business earned ($0.13) EPS. On average, sell-side analysts predict that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JMP Securities assumed coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. The Goldman Sachs Group boosted their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research report on Friday, December 20th. Finally, Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blend Labs presently has a consensus rating of “Moderate Buy” and an average target price of $5.11.

Institutional Trading of Blend Labs

A number of institutional investors and hedge funds have recently made changes to their positions in BLND. Dark Forest Capital Management LP acquired a new stake in Blend Labs in the 2nd quarter valued at $31,000. Xponance Inc. purchased a new position in Blend Labs in the 2nd quarter valued at about $35,000. Virtu Financial LLC purchased a new position in Blend Labs in the 3rd quarter valued at about $63,000. RiverPark Advisors LLC purchased a new position in Blend Labs in the 3rd quarter valued at about $77,000. Finally, FMR LLC boosted its position in Blend Labs by 15.8% in the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after buying an additional 3,576 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.