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 firm’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 completion of the sale, the insider now owns 776,759 shares in the company, valued at $2,897,311.07. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $3.73, for a total value 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 shares were 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 stock was sold at an average price of $5.12, for a total transaction of $153,600.00.

Blend Labs Stock Up 1.7 %

NYSE:BLND opened at $3.96 on Friday. The stock has a fifty day simple moving average of $4.38 and a 200 day simple moving average of $3.89. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -11.63 and a beta of 1.38. Blend Labs, Inc. has a 1-year low of $2.08 and a 1-year high of $5.53.

Blend Labs (NYSE:BLND) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $45.18 million for the quarter, compared to analyst estimates of $41.30 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Equities analysts predict that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Institutional Trading of Blend Labs

Several large investors have recently added to or reduced their stakes in BLND. FMR LLC grew its holdings in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock valued at $98,000 after buying an additional 3,576 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Blend Labs by 38.1% during the 4th 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 in the last quarter. Calamos Advisors LLC increased its holdings in shares of Blend Labs by 3.6% in the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,366 shares during the period. Xponance Inc. purchased a new stake in shares of Blend Labs in the second quarter worth approximately $35,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock worth $502,000 after purchasing an additional 16,084 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLND shares. UBS Group boosted their target price on 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 Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.75 target price on shares of Blend Labs in a research note on Friday, December 20th. The Goldman Sachs Group boosted their price target on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JMP Securities assumed coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target for the company. Two research 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. Based on data from MarketBeat, Blend Labs has a consensus rating of “Moderate Buy” and an average target price of $5.11.

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.