Insider Selling: Blend Labs, Inc. (NYSE:BLND) Director Sells 42,721 Shares of Stock

Blend Labs, Inc. (NYSE:BLND - Get Free Report) Director Timothy J. Mayopoulos sold 42,721 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total transaction of $213,605.00. Following the completion of the transaction, the director now directly owns 387,620 shares in the company, valued at $1,938,100. The trade was a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Blend Labs Price Performance

Shares of BLND traded down $0.01 during mid-day trading on Friday, reaching $5.20. The company's stock had a trading volume of 3,238,744 shares, compared to its average volume of 2,316,794. Blend Labs, Inc. has a 12-month low of $1.21 and a 12-month high of $5.29. The stock has a market cap of $1.33 billion, a PE ratio of -15.32 and a beta of 1.16. The company's 50 day moving average is $3.90 and its 200 day moving average is $3.29.

Institutional Trading of Blend Labs

Several institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new stake in Blend Labs in the second quarter valued at $31,000. Xponance Inc. acquired a new stake in shares of Blend Labs in the second quarter valued at approximately $35,000. Caxton Associates LP purchased a new position in shares of Blend Labs during the first quarter worth approximately $60,000. Virtu Financial LLC acquired a new position in shares of Blend Labs in the 3rd quarter valued at $63,000. Finally, SG Americas Securities LLC purchased a new stake in Blend Labs in the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BLND shares. UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. William Blair upgraded Blend Labs from a "market perform" rating to an "outperform" rating in a research report on Friday, August 9th. Canaccord Genuity Group upgraded Blend Labs from a "hold" rating to a "buy" rating and boosted their price objective for the company from $3.00 to $4.75 in a report on Monday, August 12th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.25 to $3.85 and gave the company a "market perform" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group upped their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $4.46.

About Blend Labs

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.

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