Blend Labs, Inc. (NYSE:BLND) Insider Brian Kneafsey Sells 30,000 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.12, for a total value of $153,600.00. Following the completion of the transaction, the insider now directly owns 937,439 shares of the company’s stock, valued at approximately $4,799,687.68. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Blend Labs Price Performance

BLND stock opened at $5.08 on Friday. The firm has a 50-day simple moving average of $4.30 and a 200-day simple moving average of $3.53. Blend Labs, Inc. has a 52 week low of $1.85 and a 52 week high of $5.53.

Hedge Funds Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new stake in shares of Blend Labs in the 2nd quarter valued at approximately $31,000. Xponance Inc. acquired a new position in Blend Labs during the second quarter worth $35,000. Virtu Financial LLC purchased a new position in shares of Blend Labs during the third quarter worth $63,000. RiverPark Advisors LLC acquired a new stake in shares of Blend Labs in the third quarter valued at $77,000. Finally, FMR LLC raised 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 valued at $98,000 after buying an additional 3,576 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their target price on shares of Blend Labs from $4.75 to $5.75 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on Blend Labs from $3.40 to $3.90 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.79.

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.