Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells 30,000 Shares of Stock

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $3.41, for a total value of $102,300.00. Following the sale, the insider now owns 836,759 shares in the company, valued at approximately $2,853,348.19. This trade represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, January 7th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00.
• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $4.27, for a total transaction 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Price Performance

NYSE BLND traded down $0.12 during trading on Thursday, hitting $3.61. The company's stock had a trading volume of 2,127,914 shares, compared to its average volume of 4,075,370. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The company has a market cap of $922.63 million, a PE ratio of -10.60 and a beta of 1.38. The business's 50 day simple moving average is $4.58 and its 200-day simple moving average is $3.80.

Institutional Trading of Blend Labs

A number of institutional investors have recently bought and sold shares of BLND. Bank of New York Mellon Corp lifted its stake in shares of Blend Labs by 3,799.4% during the second quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company's stock worth $1,546,000 after buying an additional 638,102 shares during the period. Rhumbline Advisers raised its stake in Blend Labs by 4,370.6% in the 2nd quarter. Rhumbline Advisers now owns 273,423 shares of the company's stock worth $645,000 after acquiring an additional 267,307 shares during the last quarter. Xponance Inc. acquired a new stake in Blend Labs during the 2nd quarter worth about $35,000. Squarepoint Ops LLC grew its stake in Blend Labs by 253.8% during the 2nd quarter. Squarepoint Ops LLC now owns 523,094 shares of the company's stock valued at $1,235,000 after purchasing an additional 375,233 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in shares of Blend Labs by 176.0% in the second quarter. Caxton Associates LP now owns 51,260 shares of the company's stock valued at $121,000 after purchasing an additional 32,686 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BLND shares. Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.25 to $3.85 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. JMP Securities initiated coverage on shares of Blend Labs in a report on Wednesday, December 18th. They set an "outperform" rating and a $7.00 price objective for the company. Canaccord Genuity Group restated a "buy" rating and issued a $5.75 target price on shares of Blend Labs in a research note on Friday, December 20th. 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. Finally, The Goldman Sachs Group boosted their price target on shares of Blend Labs from $3.40 to $3.90 and gave the company a "buy" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.11.

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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