Blend Labs, Inc. (NYSE:BLND) Insider Sells $151,500.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the sale, the insider now directly owns 907,439 shares of the company’s stock, valued at $4,582,566.95. This trade represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Down 0.7 %

NYSE BLND opened at $4.40 on Friday. The business’s 50-day moving average price is $4.44 and its 200 day moving average price is $3.61. The firm has a market cap of $1.13 billion, a P/E ratio of -12.94 and a beta of 1.33. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53.

Wall Street Analyst Weigh In

BLND has been the topic of several recent analyst reports. JMP Securities began coverage on shares of Blend Labs in a research note on Wednesday. They issued an “outperform” rating and a $7.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research note on Friday. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, UBS Group upped 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. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong 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 price target of $5.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BLND. Dark Forest Capital Management LP acquired a new stake in shares of Blend Labs during the second quarter worth $31,000. Xponance Inc. purchased a new position in Blend Labs during the 2nd quarter worth $35,000. Virtu Financial LLC acquired a new stake in shares of Blend Labs in the 3rd quarter worth $63,000. RiverPark Advisors LLC purchased a new stake in shares of Blend Labs in the third quarter valued at about $77,000. Finally, FMR LLC increased 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 worth $98,000 after acquiring an additional 3,576 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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.