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

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 18,324 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.18, for a total transaction of $94,918.32. Following the completion of the transaction, the insider now owns 88,677 shares in the company, valued at approximately $459,346.86. This trade represents a 17.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 transaction of $17,125.94.

Blend Labs Stock Performance

NYSE:BLND opened at $5.19 on Thursday. The firm has a market cap of $1.33 billion, a PE ratio of -15.38 and a beta of 1.16. Blend Labs, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $5.40. The business has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.36.

Institutional Trading of Blend Labs

Institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after acquiring an additional 3,576 shares during the period. ClariVest Asset Management LLC lifted its stake 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 acquiring an additional 6,988 shares during the period. Dark Forest Capital Management LP purchased a new stake in Blend Labs in the second quarter worth $31,000. Xponance Inc. purchased a new stake in Blend Labs in the second quarter worth $35,000. Finally, EP Wealth Advisors LLC lifted its stake in Blend Labs by 8.2% in the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after acquiring an additional 16,084 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLND. Keefe, Bruyette & Woods upped their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and increased their price target for the company from $3.00 to $4.75 in a research report on Monday, August 12th. William Blair upgraded shares of Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Blend Labs presently has an average rating of “Moderate Buy” and an average target price of $4.46.

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.