Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos Sells 42,721 Shares

Blend Labs, Inc. (NYSE:BLND) Director Timothy J. Mayopoulos sold 42,721 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $5.00, for a total value of $213,605.00. Following the transaction, the director now owns 387,620 shares of the company’s stock, valued at approximately $1,938,100. The trade was a 9.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Blend Labs Price Performance

BLND opened at $5.20 on Friday. Blend Labs, Inc. has a 12 month low of $1.21 and a 12 month high of $5.29. The stock has a fifty day moving average price of $3.93 and a 200-day moving average price of $3.31.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dark Forest Capital Management LP bought a new position in shares of Blend Labs in the 2nd quarter worth $31,000. Xponance Inc. bought a new position in shares of Blend Labs in the 2nd quarter worth $35,000. Virtu Financial LLC bought a new position in shares of Blend Labs in the 3rd quarter worth $63,000. Caxton Associates LP bought a new position in shares of Blend Labs in the 1st quarter worth $60,000. Finally, RiverPark Advisors LLC purchased a new position in Blend Labs during the 3rd quarter worth $77,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group lifted their target price on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, William Blair raised Blend Labs from a “market perform” rating to an “outperform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.46.

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.