Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells 30,000 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00. Following the completion of the transaction, the insider now directly owns 866,759 shares of the company’s stock, valued at $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 available through this link.

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

• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was 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 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 shares were sold at an average price of $5.12, for a total transaction of $153,600.00.

Blend Labs Trading Up 0.3 %

Blend Labs stock opened at $3.74 on Thursday. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53. The firm has a 50-day moving average price of $4.59 and a 200-day moving average price of $3.76. The firm has a market capitalization of $957.18 million, a PE ratio of -11.00 and a beta of 1.38.

Wall Street Analyst Weigh In

Several analysts have commented on BLND shares. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research note on Friday, December 20th. Wells Fargo & Company lifted their price objective on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, 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 research report on Wednesday, October 23rd. Two 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’s stock. According to data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Trading of Blend Labs

Several institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new position in shares of Blend Labs during the second quarter valued at approximately $31,000. Xponance Inc. bought a new position in Blend Labs in the 2nd quarter valued at $35,000. Virtu Financial LLC purchased a new stake in Blend Labs in the third quarter worth $63,000. RiverPark Advisors LLC bought a new stake in shares of Blend Labs during the third quarter worth $77,000. Finally, FMR LLC boosted its stake 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 during the period. Institutional investors own 52.56% of the company’s stock.

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.