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 business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $3.41, for a total transaction of $102,300.00. Following the completion of the sale, the insider now owns 836,759 shares in the company, valued at approximately $2,853,348.19. The trade was a 3.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $111,900.00.
• 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 stock was 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 Price Performance

Shares of BLND stock opened at $3.61 on Friday. The company has a market capitalization of $922.63 million, a P/E ratio of -10.60 and a beta of 1.38. The company’s 50-day simple moving average is $4.54 and its two-hundred day simple moving average is $3.82. Blend Labs, Inc. has a one year low of $2.08 and a one year high of $5.53.

Hedge Funds Weigh In On Blend Labs

Hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP bought a new position in Blend Labs in the 2nd quarter worth about $31,000. Xponance Inc. bought a new position in Blend Labs in the 2nd quarter worth about $35,000. Virtu Financial LLC bought a new position in Blend Labs in the 3rd quarter worth about $63,000. RiverPark Advisors LLC bought a new position in Blend Labs in the 3rd quarter worth about $77,000. Finally, FMR LLC grew its stake in Blend Labs by 15.8% in the 3rd quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after acquiring an additional 3,576 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLND has been the topic of a number of research reports. JMP Securities initiated coverage on shares of Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 target price on the stock. The Goldman Sachs Group upped their price target 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. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their price target 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. Finally, UBS Group upped their price target on shares of Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.