Blend Labs, Inc. (NYSE:BLND) Insider Oxana Tkach Sells 18,324 Shares

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 18,324 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.18, for a total value of $94,918.32. Following the completion of the transaction, the insider now directly owns 88,677 shares in the company, valued at $459,346.86. This represents a 17.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Oxana Tkach also recently made the following trade(s):

• On Monday, September 23rd, Oxana Tkach sold 4,303 shares of Blend Labs stock. The stock was sold at an average price of $3.98, for a total transaction of $17,125.94.

Blend Labs Trading Down 1.9 %

BLND traded down $0.10 during midday trading on Tuesday, hitting $5.18. 4,134,977 shares of the company traded hands, compared to its average volume of 2,327,540. The business has a 50 day simple moving average of $3.96 and a two-hundred day simple moving average of $3.34. Blend Labs, Inc. has a 52-week low of $1.21 and a 52-week high of $5.40. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -15.53 and a beta of 1.16.

Institutional Trading of Blend Labs

Large investors have recently made changes to their positions in the company. ShawSpring Partners LLC grew 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 worth $15,850,000 after buying an additional 2,485,283 shares in the last quarter. Principal Financial Group Inc. boosted its position in Blend Labs by 697.6% during 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 during the last quarter. State Street Corp grew its stake in Blend Labs by 57.6% during the 3rd quarter. State Street Corp now owns 5,461,973 shares of the company’s stock valued at $20,482,000 after acquiring an additional 1,995,362 shares in the last quarter. Summit Partners Public Asset Management LLC grew its stake in Blend Labs by 452.7% during the 3rd 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 in the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in Blend Labs in the 3rd quarter valued at about $3,253,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BLND has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Blend Labs from $3.50 to $4.50 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and raised their price target for the company from $3.00 to $4.75 in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.