Blend Labs, Inc. (NYSE:BLND) Insider Sells $18,559.39 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,247 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.37, for a total transaction of $18,559.39. Following the completion of the transaction, the insider now owns 84,430 shares in the company, valued at $368,959.10. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 25th, Oxana Tkach sold 18,324 shares of Blend Labs stock. The shares were sold at an average price of $5.18, for a total transaction of $94,918.32.

Blend Labs Trading Up 2.0 %

Blend Labs stock opened at $4.50 on Thursday. The company has a market cap of $1.15 billion, a P/E ratio of -13.23 and a beta of 1.33. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53. The company has a fifty day simple moving average of $4.48 and a 200 day simple moving average of $3.65.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after purchasing an additional 3,576 shares in the last quarter. ClariVest Asset Management LLC grew its position in Blend Labs by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock valued at $595,000 after purchasing an additional 6,988 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Blend Labs in the second quarter valued at $31,000. Xponance Inc. bought a new position in shares of Blend Labs in the 2nd quarter valued at about $35,000. Finally, EP Wealth Advisors LLC grew its position in shares of Blend Labs by 8.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after acquiring an additional 16,084 shares during the period. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

BLND has been the topic of several analyst reports. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. UBS Group increased their target price 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. JMP Securities initiated coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.11.

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.