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 the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the transaction, the insider now owns 907,439 shares of the company’s stock, valued at $4,582,566.95. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 value of $153,600.00.

Blend Labs Trading Down 6.2 %

Shares of BLND traded down $0.31 during trading hours on Wednesday, reaching $4.73. 2,991,109 shares of the company’s stock traded hands, compared to its average volume of 2,370,984. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The stock has a market cap of $1.21 billion, a PE ratio of -13.91 and a beta of 1.33. The firm’s 50 day simple moving average is $4.38 and its 200-day simple moving average is $3.58.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently bought and sold shares of the stock. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the 2nd quarter worth $31,000. Xponance Inc. purchased a new position in Blend Labs in the second quarter worth $35,000. Virtu Financial LLC purchased a new position in Blend Labs in the third quarter worth $63,000. RiverPark Advisors LLC bought a new position in Blend Labs in the third quarter valued at $77,000. Finally, FMR LLC raised its position in Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLND. Keefe, Bruyette & Woods lifted their target price 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. JMP Securities initiated coverage on shares of Blend Labs in a research note on Wednesday. They issued an “outperform” rating and a $7.00 price objective for the company. Canaccord Genuity Group boosted their target price on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, UBS Group boosted their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Blend Labs has an average rating of “Moderate Buy” and an average target price 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.