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 stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now directly owns 776,759 shares of the company’s stock, valued at approximately $2,897,311.07. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, January 21st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.59, for a total value of $107,700.00.
• On Tuesday, January 14th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.41, for a total value of $102,300.00.
• On Tuesday, January 7th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $3.73, for a total transaction 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 shares were 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 stock was sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

Shares of NYSE:BLND opened at $3.84 on Friday. The firm has a market capitalization of $981.49 million, a PE ratio of -11.28 and a beta of 1.38. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The firm has a fifty day moving average of $4.35 and a 200 day moving average of $3.90.

Blend Labs (NYSE:BLND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $45.18 million during the quarter, compared to analysts’ expectations of $41.30 million. During the same period in the prior year, the firm earned ($0.13) EPS. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BLND. Xponance Inc. bought a new position in shares of Blend Labs during the 2nd quarter valued at $35,000. Squarepoint Ops LLC increased its holdings in shares of Blend Labs by 253.8% in the second quarter. Squarepoint Ops LLC now owns 523,094 shares of the company’s stock worth $1,235,000 after buying an additional 375,233 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Blend Labs in the 2nd quarter valued at about $211,000. Algert Global LLC boosted its holdings in Blend Labs by 27.6% during the 2nd quarter. Algert Global LLC now owns 86,156 shares of the company’s stock valued at $203,000 after acquiring an additional 18,656 shares during the period. Finally, EP Wealth Advisors LLC grew its position in Blend Labs by 8.2% during the 2nd 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 last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLND has been the subject of several recent research reports. UBS Group lifted their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. JMP Securities began coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price on the stock. Finally, 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 report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.11.

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.