Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells $102,300.00 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the firm’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 transaction of $102,300.00. Following the sale, the insider now directly owns 836,759 shares of the company’s stock, valued at $2,853,348.19. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were 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 stock was sold at an average price of $5.05, for a total transaction of $151,500.00.
• On Tuesday, December 10th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $5.12, for a total transaction of $153,600.00.

Blend Labs Stock Performance

BLND opened at $3.61 on Friday. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The firm’s fifty day moving average is $4.54 and its 200 day moving average is $3.82. The stock has a market cap of $922.63 million, a price-to-earnings ratio of -10.60 and a beta of 1.38.

Analyst Upgrades and Downgrades

A number of research firms have commented on BLND. UBS Group lifted their target price on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JMP Securities started coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price target on shares of Blend Labs in a research note on Friday, December 20th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs during the 2nd quarter valued at $31,000. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter worth $35,000. Virtu Financial LLC purchased a new stake in Blend Labs in the 3rd quarter worth $63,000. RiverPark Advisors LLC purchased a new stake in Blend Labs in the 3rd quarter worth $77,000. Finally, FMR LLC lifted its stake in Blend Labs by 15.8% in the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after purchasing an additional 3,576 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.