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 firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $4.27, for a total transaction of $128,100.00. Following the sale, the insider now owns 896,759 shares in the company, valued at approximately $3,829,160.93. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Down 1.0 %

BLND stock opened at $3.80 on Friday. The company has a market capitalization of $972.53 million, a price-to-earnings ratio of -11.18 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 has a 50 day moving average of $4.58 and a two-hundred day moving average of $3.72.

Analyst Ratings Changes

BLND has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised 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. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. JMP Securities began coverage on Blend Labs in a research note on Wednesday, December 18th. They set an “outperform” rating and a $7.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $5.75 price objective on shares of Blend Labs in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.11.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently added to or reduced their stakes in the company. ShawSpring Partners LLC grew its holdings in shares of Blend Labs by 58.7% during the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after purchasing an additional 2,485,283 shares in the last quarter. State Street Corp increased its holdings in Blend Labs by 57.6% in the 3rd quarter. State Street Corp now owns 5,461,973 shares of the company’s stock valued at $20,482,000 after buying an additional 1,995,362 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Blend Labs by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after acquiring an additional 283,207 shares during the period. Principal Financial Group Inc. increased its stake in Blend Labs by 697.6% in the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after acquiring an additional 2,390,337 shares during the period. Finally, Summit Partners Public Asset Management LLC raised its position in Blend Labs by 452.7% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock worth $7,109,000 after purchasing an additional 1,552,865 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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.