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

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 30,000 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00. Following the sale, the insider now directly owns 866,759 shares in the company, valued at approximately $3,233,011.07. The trade was a 3.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value 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 value 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 transaction of $153,600.00.

Blend Labs Stock Performance

Shares of Blend Labs stock traded up $0.01 on Wednesday, reaching $3.74. 3,014,272 shares of the company's stock were exchanged, compared to its average volume of 4,190,433. The company has a market capitalization of $957.18 million, a P/E ratio of -11.00 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's 50-day moving average is $4.59 and its two-hundred day moving average is $3.76.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citizens Jmp upgraded shares of Blend Labs to a "strong-buy" rating in a report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on Blend Labs from $4.50 to $6.50 and gave the stock an "overweight" rating in a report on Thursday, December 5th. JMP Securities started coverage on Blend Labs in a research note on Wednesday, December 18th. They issued an "outperform" rating and a $7.00 price target for the company. UBS Group lifted their price objective on Blend Labs from $3.00 to $4.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BLND. ShawSpring Partners LLC raised its holdings 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 valued at $15,850,000 after purchasing an additional 2,485,283 shares during the period. State Street Corp increased its position in Blend Labs by 57.6% in the 3rd quarter. State Street Corp now owns 5,461,973 shares of the company's stock valued at $20,482,000 after buying an additional 1,995,362 shares in the last quarter. Geode Capital Management LLC raised its stake in Blend Labs by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company's stock worth $17,880,000 after buying an additional 283,207 shares during the period. Principal Financial Group Inc. boosted its holdings in Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company's stock worth $10,249,000 after acquiring an additional 2,390,337 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC grew its stake in Blend Labs by 452.7% in 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 acquiring an additional 1,552,865 shares during the period. 52.56% of the stock is owned by institutional investors.

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.