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 that occurred on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total transaction of $111,900.00. Following the sale, the insider now owns 866,759 shares in the company, valued at $3,233,011.07. This represents a 3.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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

BLND stock opened at $3.74 on Friday. The business’s 50 day moving average price is $4.60 and its two-hundred day moving average price is $3.76. The company has a market capitalization of $957.18 million, a price-to-earnings ratio of -11.00 and a beta of 1.38. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53.

Wall Street Analysts Forecast Growth

BLND has been the topic of several recent research reports. JMP Securities began coverage on Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price objective on shares of Blend Labs in a research note on Friday, December 20th. UBS Group increased their price target 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. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group increased 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BLND. Geode Capital Management LLC grew its holdings in shares of Blend Labs by 6.3% during the third quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock valued at $17,880,000 after buying an additional 283,207 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Blend Labs during the third quarter valued at approximately $3,253,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Blend Labs in the third quarter worth about $676,000. SG Americas Securities LLC purchased a new position in Blend Labs during the third quarter valued at $660,000. Finally, Fullcircle Wealth LLC purchased a new position in Blend Labs during the 3rd quarter valued at approximately $508,000. 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.