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 stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total transaction of $128,100.00. Following the sale, the insider now owns 896,759 shares of the company’s stock, valued at $3,829,160.93. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Stock Performance

Shares of BLND stock opened at $3.80 on Friday. The firm’s 50 day moving average price is $4.58 and its two-hundred day moving average price is $3.72. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The stock has a market cap of $972.53 million, a PE ratio of -11.18 and a beta of 1.33.

Analyst Ratings Changes

A number of research firms recently weighed in on BLND. 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. Wells Fargo & Company lifted their price target on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. 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.com, Blend Labs has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Inflows and Outflows

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