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 company’s stock in a transaction that occurred 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 sale, the insider now owns 907,439 shares in the company, valued at $4,582,566.95. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 10th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Down 6.7 %

Blend Labs stock opened at $4.70 on Thursday. The firm has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $3.59. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The company has a market capitalization of $1.20 billion, a PE ratio of -13.82 and a beta of 1.33.

Analyst Upgrades and Downgrades

BLND has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods upped their price target 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. The Goldman Sachs Group boosted their price objective 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 objective on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group upped their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blend Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Investors Weigh In On Blend Labs

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

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.