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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00. Following the completion of the sale, the insider now owns 866,759 shares of the company’s stock, valued at $3,233,011.07. This trade represents a 3.35 % 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 link.

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

• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $4.27, for a total value 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 Up 0.3 %

NYSE BLND opened at $3.74 on Thursday. The company has a 50-day moving average price of $4.59 and a 200-day moving average price of $3.76. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The firm has a market capitalization of $957.18 million, a P/E ratio of -11.00 and a beta of 1.38.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BLND shares. Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 target price on shares of Blend Labs in a report on Friday, December 20th. The Goldman Sachs Group boosted their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group raised their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JMP Securities initiated coverage on shares of Blend Labs in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, 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 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 stock. According to data from MarketBeat.com, Blend Labs presently has an average rating of “Moderate Buy” and an average price target of $5.11.

Institutional Trading of Blend Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in shares of Blend Labs during the 2nd quarter worth $31,000. Xponance Inc. bought a new position in Blend Labs in the 2nd quarter worth $35,000. Virtu Financial LLC purchased a new position in Blend Labs during the third quarter valued at $63,000. RiverPark Advisors LLC purchased a new position in Blend Labs during the third quarter valued at $77,000. Finally, FMR LLC grew its holdings in 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 purchasing an additional 3,576 shares during the period. 52.56% of the stock is owned by hedge funds and other 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.