Blend Labs, Inc. (NYSE:BLND) Insider Sells $111,900.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the completion of the sale, the insider now directly owns 866,759 shares in the company, valued at approximately $3,233,011.07. This represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 value of $153,600.00.

Blend Labs Stock Performance

Blend Labs stock opened at $3.74 on Friday. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The company has a market cap of $957.18 million, a PE ratio of -11.00 and a beta of 1.38. The business’s 50-day simple moving average is $4.60 and its two-hundred day simple moving average is $3.76.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. UBS Group upped 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. Wells Fargo & Company lifted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their target price on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Hedge Funds Weigh In On Blend Labs

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

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.