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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $5.12, for a total value of $153,600.00. Following the completion of the sale, the insider now owns 937,439 shares in the company, valued at approximately $4,799,687.68. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Blend Labs Trading Down 3.1 %

Shares of BLND stock opened at $4.92 on Friday. Blend Labs, Inc. has a twelve month low of $1.99 and a twelve month high of $5.53. The company’s 50-day moving average price is $4.32 and its 200-day moving average price is $3.55. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -14.47 and a beta of 1.33.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLND. Wells Fargo & Company lifted their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price 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. Canaccord Genuity Group increased their target price on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.79.

Hedge Funds Weigh In On Blend Labs

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Blend Labs by 15.8% during the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after buying an additional 3,576 shares during the last quarter. ClariVest Asset Management LLC increased its stake in Blend Labs by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after acquiring an additional 6,988 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Blend Labs in the second quarter valued at $31,000. Xponance Inc. acquired a new position in shares of Blend Labs in the 2nd quarter valued at $35,000. Finally, EP Wealth Advisors LLC grew its holdings in shares of Blend Labs by 8.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after purchasing an additional 16,084 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.