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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the completion of the sale, the insider now directly owns 836,759 shares of the company’s stock, valued at $2,853,348.19. The trade was a 3.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Brian Kneafsey also recently made the following trade(s):

• On Tuesday, January 7th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.73, for a total value of $111,900.00.
• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $4.27, for a total transaction of $128,100.00.
• 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 Up 0.4 %

Shares of BLND opened at $3.61 on Friday. The business’s 50 day moving average is $4.54 and its 200 day moving average is $3.81. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53. The company has a market capitalization of $922.63 million, a PE ratio of -10.60 and a beta of 1.38.

Analyst Ratings Changes

BLND has been the subject of a number of recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a research report on Friday, December 20th. Keefe, Bruyette & Woods boosted their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. JMP Securities assumed coverage on Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target for the company. The Goldman Sachs Group lifted their price objective on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Blend Labs has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Institutional Investors Weigh In On Blend Labs

Several institutional investors and hedge funds have recently modified their holdings of the stock. ShawSpring Partners LLC boosted its position in shares of Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after acquiring an additional 2,485,283 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after purchasing an additional 2,390,337 shares during the last quarter. State Street Corp boosted its holdings in shares of Blend Labs by 57.6% during the 3rd 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. Summit Partners Public Asset Management LLC grew its position in shares of Blend Labs by 452.7% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock valued at $7,109,000 after purchasing an additional 1,552,865 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Blend Labs by 193.5% in the third quarter. JPMorgan Chase & Co. now owns 1,714,955 shares of the company’s stock worth $6,431,000 after purchasing an additional 1,130,706 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

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.