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 stock in a transaction dated Tuesday, December 17th. The stock was 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 directly owns 907,439 shares in the company, valued at $4,582,566.95. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

NYSE:BLND opened at $4.43 on Friday. The firm has a 50-day simple moving average of $4.43 and a 200-day simple moving average of $3.60. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53. The firm has a market cap of $1.13 billion, a P/E ratio of -13.03 and a beta of 1.33.

Analyst Ratings Changes

BLND has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. 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 research note on Thursday, November 7th. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday. UBS Group boosted 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, JMP Securities initiated coverage on shares of Blend Labs in a research report on Wednesday. They set an “outperform” rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Hedge Funds Weigh In On Blend Labs

Institutional investors have recently bought and sold shares of the business. ShawSpring Partners LLC boosted its position in Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock valued at $15,850,000 after acquiring an additional 2,485,283 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Blend Labs by 697.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock worth $10,249,000 after purchasing an additional 2,390,337 shares during the last quarter. State Street Corp boosted its position in Blend Labs by 57.6% during the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock valued at $20,482,000 after purchasing an additional 1,995,362 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its position in Blend Labs by 452.7% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock valued at $7,109,000 after purchasing an additional 1,552,865 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new position in Blend Labs in the third quarter valued at about $3,253,000. 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.