Blend Labs, Inc. (NYSE:BLND) Insider Sells $128,100.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total transaction of $128,100.00. Following the completion of the sale, the insider now owns 896,759 shares in the company, valued at $3,829,160.93. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 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 Down 1.0 %

NYSE:BLND opened at $3.80 on Friday. The company has a market cap of $972.53 million, a price-to-earnings ratio of -11.18 and a beta of 1.33. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The stock has a fifty day simple moving average of $4.58 and a 200-day simple moving average of $3.73.

Analyst Ratings Changes

Several brokerages have weighed in on BLND. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group raised their price target on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Blend Labs by 3,799.4% during the second quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company’s stock worth $1,546,000 after acquiring an additional 638,102 shares during the period. Principal Financial Group Inc. bought a new stake in Blend Labs during the 2nd quarter valued at $809,000. Rhumbline Advisers lifted its holdings in shares of Blend Labs by 4,370.6% in the 2nd quarter. Rhumbline Advisers now owns 273,423 shares of the company’s stock worth $645,000 after buying an additional 267,307 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Blend Labs by 8.6% in the 2nd quarter. Acadian Asset Management LLC now owns 780,274 shares of the company’s stock worth $1,840,000 after buying an additional 62,000 shares during the period. Finally, ClariVest Asset Management LLC grew its position in shares of Blend Labs by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after buying an additional 6,988 shares in the last quarter. 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.