Oxana Tkach Sells 4,247 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,247 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.37, for a total transaction of $18,559.39. Following the completion of the sale, the insider now owns 84,430 shares of the company’s stock, valued at $368,959.10. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 25th, Oxana Tkach sold 18,324 shares of Blend Labs stock. The stock was sold at an average price of $5.18, for a total value of $94,918.32.

Blend Labs Trading Up 2.0 %

BLND stock opened at $4.50 on Wednesday. The stock’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $3.64. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53. The stock has a market capitalization of $1.15 billion, a PE ratio of -13.23 and a beta of 1.33.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group increased their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. Wells Fargo & Company raised their target price on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ShawSpring Partners LLC raised its position in Blend Labs by 58.7% in the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after buying an additional 2,485,283 shares during the last quarter. State Street Corp raised 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 valued at $20,482,000 after purchasing an additional 1,995,362 shares during the last quarter. Geode Capital Management LLC lifted its position in Blend Labs by 6.3% during 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 during the period. Principal Financial Group Inc. boosted its holdings in Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after purchasing an additional 2,390,337 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC grew its position in Blend Labs by 452.7% in the 3rd 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 period. 52.56% of the stock is owned by 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.