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, January 14th. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the sale, the insider now owns 836,759 shares in the company, valued at approximately $2,853,348.19. This trade represents a 3.46 % 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, 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 shares were sold at an average price of $5.05, for a total value 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 value of $153,600.00.

Blend Labs Stock Performance

Shares of Blend Labs stock opened at $3.61 on Friday. The company has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $3.81. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The stock has a market capitalization of $922.63 million, a PE ratio of -10.60 and a beta of 1.38.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLND. JMP Securities started coverage on Blend Labs in a research report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased 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. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, UBS Group upped their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Two equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of 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. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs during the second quarter valued at $31,000. Xponance Inc. bought a new stake in Blend Labs in the 2nd quarter worth about $35,000. EP Wealth Advisors LLC lifted its stake 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 acquiring an additional 16,084 shares during the period. Finally, Virtu Financial LLC bought a new position in Blend Labs during the 3rd quarter valued at about $63,000. 52.56% of the stock is owned by 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.