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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $5.05, for a total transaction of $151,500.00. Following the completion of the sale, the insider now owns 907,439 shares in the company, valued at approximately $4,582,566.95. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Kneafsey also recently made the following trade(s):

• 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 Down 6.7 %

BLND stock opened at $4.70 on Thursday. The business has a 50 day moving average of $4.41 and a 200 day moving average of $3.59. The firm has a market cap of $1.20 billion, a PE ratio of -13.82 and a beta of 1.33. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Canaccord Genuity Group upped their target price on Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research note on Thursday, November 7th. JMP Securities assumed coverage on Blend Labs in a research note on Wednesday. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, UBS Group raised their price objective on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.11.

Hedge Funds Weigh In On Blend Labs

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dark Forest Capital Management LP bought a new position in Blend Labs in the 2nd quarter worth about $31,000. Xponance Inc. purchased a new position in Blend Labs in the second quarter worth about $35,000. Virtu Financial LLC bought a new position in shares of Blend Labs in the third quarter worth approximately $63,000. RiverPark Advisors LLC purchased a new stake in shares of Blend Labs during the third quarter valued at approximately $77,000. Finally, FMR LLC increased its position in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after acquiring an additional 3,576 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

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.