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 business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $4.27, for a total transaction of $128,100.00. Following the completion of the transaction, the insider now owns 896,759 shares in the company, valued at approximately $3,829,160.93. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 stock was sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

NYSE:BLND opened at $3.84 on Friday. The firm has a market capitalization of $982.77 million, a price-to-earnings ratio of -11.29 and a beta of 1.33. The stock has a fifty day moving average of $4.57 and a 200 day moving average of $3.71. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BLND shares. Wells Fargo & Company increased their price target 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 shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. UBS Group lifted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Institutional Trading of Blend Labs

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Blend Labs by 6.3% in the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after purchasing an additional 283,207 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in shares of Blend Labs during the 3rd quarter valued at $3,253,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Blend Labs during the 3rd quarter worth $676,000. SG Americas Securities LLC purchased a new position in Blend Labs in the third quarter worth $660,000. Finally, Fullcircle Wealth LLC purchased a new position in Blend Labs in the third quarter worth $508,000. 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.