Brian Kneafsey Sells 30,000 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total value of $153,600.00. Following the transaction, the insider now directly owns 937,439 shares of the company’s stock, valued at $4,799,687.68. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Blend Labs Price Performance

Shares of BLND stock opened at $5.08 on Friday. Blend Labs, Inc. has a 1-year low of $1.85 and a 1-year high of $5.53. The firm has a fifty day moving average of $4.30 and a two-hundred day moving average of $3.53.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods upped their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. UBS Group increased their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.79.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Blend Labs by 3,799.4% during the 2nd 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 last quarter. Principal Financial Group Inc. bought a new position in shares of Blend Labs during the second quarter valued at approximately $809,000. Rhumbline Advisers raised its position in shares of Blend Labs by 4,370.6% during the 2nd quarter. Rhumbline Advisers now owns 273,423 shares of the company’s stock worth $645,000 after purchasing 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 purchasing an additional 62,000 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Blend Labs by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after purchasing an additional 6,988 shares during the period. Institutional investors and hedge funds 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.