Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells 18,324 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 18,324 shares of the 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 transaction, the insider now owns 88,677 shares of the company’s stock, valued at approximately $459,346.86. This trade represents a 17.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 Stock Performance

NYSE BLND opened at $5.19 on Thursday. Blend Labs, Inc. has a one year low of $1.21 and a one year high of $5.40. The stock has a 50-day moving average of $3.98 and a 200 day moving average of $3.36. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -15.38 and a beta of 1.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLND shares. William Blair upgraded Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company raised their price target on Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group upgraded Blend Labs from a “hold” rating to a “buy” rating and raised their price target for the company from $3.00 to $4.75 in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.46.

Institutional Investors Weigh In On Blend Labs

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. bought a new stake in Blend Labs in the 3rd quarter worth about $2,463,000. Virtu Financial LLC bought a new stake in Blend Labs in the 3rd quarter worth about $63,000. Barclays PLC increased its holdings in Blend Labs by 263.1% in the 3rd quarter. Barclays PLC now owns 407,774 shares of the company’s stock worth $1,530,000 after buying an additional 295,460 shares in the last quarter. Geode Capital Management LLC increased its holdings in Blend Labs by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after buying an additional 283,207 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in Blend Labs in the third quarter worth about $1,019,000. 52.56% of the stock is currently owned by institutional investors.

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.