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 the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the transaction, the insider now owns 776,759 shares of the company’s stock, valued at approximately $2,897,311.07. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, January 21st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $3.59, for a total value of $107,700.00.
• On Tuesday, January 14th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.41, for a total value of $102,300.00.
• 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 shares were 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 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

BLND stock opened at $3.84 on Friday. The company has a market capitalization of $981.49 million, a P/E ratio of -11.28 and a beta of 1.38. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The business has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $3.90.

Blend Labs (NYSE:BLND) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $45.18 million during the quarter, compared to analyst estimates of $41.30 million. During the same period in the prior year, the business earned ($0.13) EPS. As a group, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BLND shares. Wells Fargo & Company raised their target price on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods increased 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 reiterated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a report on Friday, December 20th. UBS Group raised their target price on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BLND. Xponance Inc. purchased a new stake in Blend Labs in the 2nd quarter valued at about $35,000. Virtu Financial LLC bought a new position in shares of Blend Labs in the third quarter valued at approximately $63,000. Summit Trail Advisors LLC increased its position in shares of Blend Labs by 38.1% during the fourth quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock valued at $76,000 after acquiring an additional 4,953 shares during the last quarter. RiverPark Advisors LLC bought a new stake in Blend Labs during the third quarter worth $77,000. Finally, FMR LLC boosted its position in Blend Labs by 15.8% in the third 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 last quarter. 52.56% of the stock is 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.