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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.05, for a total value of $151,500.00. Following the transaction, the insider now directly owns 907,439 shares in the company, valued at approximately $4,582,566.95. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 Price Performance

BLND stock opened at $4.43 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -13.03 and a beta of 1.33. Blend Labs, Inc. has a 12 month low of $2.08 and a 12 month high of $5.53. The firm’s fifty day simple moving average is $4.43 and its 200-day simple moving average is $3.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research note on Wednesday. Canaccord Genuity Group increased their price objective on shares of Blend Labs from $4.75 to $5.75 and gave the company a “buy” rating in a research 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 stock a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on shares of Blend Labs from $3.25 to $3.85 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Blend Labs in a report on Wednesday. They set an “outperform” rating and a $7.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blend Labs currently has an average rating of “Moderate Buy” and an average target price of $5.11.

Institutional Investors Weigh In On Blend Labs

Several hedge funds have recently added to or reduced their stakes in BLND. Bank of New York Mellon Corp raised its stake in shares of Blend Labs by 3,799.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 654,897 shares of the company’s stock valued at $1,546,000 after buying an additional 638,102 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Blend Labs during the second quarter valued at approximately $809,000. Rhumbline Advisers lifted its holdings in Blend Labs by 4,370.6% in the second quarter. Rhumbline Advisers now owns 273,423 shares of the company’s stock valued at $645,000 after acquiring an additional 267,307 shares during the period. Acadian Asset Management LLC lifted its holdings in Blend Labs by 8.6% in the second quarter. Acadian Asset Management LLC now owns 780,274 shares of the company’s stock valued at $1,840,000 after acquiring an additional 62,000 shares during the period. Finally, ClariVest Asset Management LLC boosted its position in Blend Labs by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after purchasing an additional 6,988 shares in the last quarter. 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.