Blend Labs (NYSE:BLND) Insider Sells $25,553.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 27,775 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $0.92, for a total transaction of $25,553.00. Following the sale, the insider directly owned 7,750,693 shares in the company, valued at approximately $7,130,637.56. The trade was a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nima Ghamsari also recently made the following trade(s):

• On Monday, October 12th, Nima Ghamsari sold 25,098 shares of Blend Labs stock. The shares were sold at an average price of $0.97, for a total transaction of $24,345.06.
• On Monday, October 5th, Nima Ghamsari sold 24,272 shares of Blend Labs stock. The stock was sold at an average price of $1.02, for a total value of $24,757.44.
• On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The shares were sold at an average price of $1.10, for a total value of $24,775.30.
• On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The stock was sold at an average price of $1.19, for a total value of $25,000.71.

Blend Labs Price Performance

Shares of BLND stock traded up $0.07 during trading hours on Wednesday, hitting $1.09. The stock had a trading volume of 1,628,551 shares, compared to its average volume of 3,116,919. The firm has a market capitalization of $258.98 million, a PE ratio of -12.17 and a beta of 1.08. The stock’s 50 day moving average is $1.28 and its 200 day moving average is $1.52. Blend Labs, Inc. has a twelve month low of $0.88 and a twelve month high of $3.62.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BLND shares. Weiss Ratings downgraded shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wells Fargo & Company reduced their target price on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Wall Street Zen upgraded shares of Blend Labs from a “hold” rating to a “buy” rating in a research note on Saturday. Citizens Jmp reissued a “market outperform” rating and set a $4.00 price target on shares of Blend Labs in a report on Tuesday, July 21st. Finally, Canaccord Genuity Group dropped their price target on Blend Labs from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.82.

Hedge Funds Weigh In On Blend Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in shares of Blend Labs by 25.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 67,224 shares of the company’s stock worth $108,000 after buying an additional 13,428 shares in the last quarter. Essential Partners LLC grew its stake in shares of Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock worth $27,000 after purchasing an additional 15,673 shares during the period. Bank of America Corp DE increased its holdings in shares of Blend Labs by 6.8% in the 1st quarter. Bank of America Corp DE now owns 340,757 shares of the company’s stock valued at $579,000 after purchasing an additional 21,713 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Blend Labs by 248.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 30,645 shares of the company’s stock valued at $93,000 after purchasing an additional 21,859 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in Blend Labs by 52.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 68,950 shares of the company’s stock valued at $117,000 after buying an additional 23,725 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Company Profile

Blend Labs, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to digitize and streamline the process of applying for, underwriting and closing financial products, helping institutions deliver more consistent experiences across digital and physical channels.

The company’s solutions support a range of lending and banking activities, including consumer deposit accounts, mortgages, home equity loans, personal loans, auto loans and credit cards.