Blend Labs, Inc. (NYSE:BLND) Insider Sells $94,918.32 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 18,324 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.18, for a total value of $94,918.32. Following the completion of the sale, the insider now directly owns 88,677 shares of the company’s stock, valued at $459,346.86. This represents a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Oxana Tkach also recently made the following trade(s):

• On Monday, September 23rd, Oxana Tkach sold 4,303 shares of Blend Labs stock. The stock was sold at an average price of $3.98, for a total value of $17,125.94.

Blend Labs Trading Up 0.2 %

Blend Labs stock opened at $5.19 on Friday. The firm’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $3.37. Blend Labs, Inc. has a 1-year low of $1.21 and a 1-year high of $5.40. The firm has a market capitalization of $1.33 billion, a PE ratio of -15.26 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BLND shares. Canaccord Genuity Group boosted their price objective on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research note on Thursday, November 7th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised shares of Blend Labs from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.00 to $4.75 in a report on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their price target on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.46.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ShawSpring Partners LLC boosted its stake in Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after buying an additional 2,485,283 shares during the period. Principal Financial Group Inc. boosted its position in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after acquiring an additional 2,390,337 shares during the last quarter. State Street Corp grew its holdings in shares of Blend Labs by 57.6% during the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock worth $20,482,000 after purchasing an additional 1,995,362 shares in the last quarter. Summit Partners Public Asset Management LLC increased its position in shares of Blend Labs by 452.7% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock worth $7,109,000 after purchasing an additional 1,552,865 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new position in shares of Blend Labs in the third quarter worth approximately $3,253,000. Institutional investors 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.