Blend Labs, Inc. (NYSE:BLND) Insider Sells $151,500.00 in Stock

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the completion of the transaction, the insider now owns 907,439 shares in the company, 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 is available at the SEC website.

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

• 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 Trading Down 6.7 %

BLND traded down $0.34 during trading on Wednesday, reaching $4.70. The stock had a trading volume of 3,521,624 shares, compared to its average volume of 2,375,040. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -13.82 and a beta of 1.33. The stock's 50 day moving average is $4.41 and its two-hundred day moving average is $3.59. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BLND. ShawSpring Partners LLC raised its stake in Blend Labs by 58.7% during the second quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company's stock valued at $15,850,000 after buying an additional 2,485,283 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock valued at $10,249,000 after acquiring an additional 2,390,337 shares in the last quarter. State Street Corp raised its position in shares of Blend Labs by 57.6% in the 3rd quarter. State Street Corp now owns 5,461,973 shares of the company's stock worth $20,482,000 after purchasing an additional 1,995,362 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its stake in Blend Labs by 452.7% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company's stock worth $7,109,000 after purchasing an additional 1,552,865 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new position in Blend Labs in the 3rd quarter worth about $3,253,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their target price on Blend Labs from $4.75 to $5.75 and gave the company a "buy" rating in a report on Thursday, November 7th. JMP Securities assumed coverage on shares of Blend Labs in a report on Wednesday. They issued an "outperform" rating and a $7.00 price target on the stock. UBS Group boosted their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blend Labs presently has an average rating of "Moderate Buy" and a consensus 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.