Blend Labs, Inc. (NYSE:BLND) Insider Brian Kneafsey Sells 20,000 Shares

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 20,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $3.31, for a total value of $66,200.00. Following the transaction, the insider owned 786,598 shares in the company, valued at $2,603,639.38. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 23rd, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The stock was sold at an average price of $3.17, for a total transaction of $63,400.00.

Blend Labs Stock Performance

BLND stock remained flat at $3.43 during mid-day trading on Wednesday. 1,789,822 shares of the company's stock were exchanged, compared to its average volume of 2,899,496. Blend Labs, Inc. has a 12 month low of $2.27 and a 12 month high of $5.53. The company's fifty day moving average price is $3.43 and its 200 day moving average price is $3.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLND. Rhumbline Advisers lifted its position in Blend Labs by 10.9% during the first quarter. Rhumbline Advisers now owns 324,773 shares of the company's stock worth $1,088,000 after buying an additional 32,030 shares in the last quarter. Swiss National Bank increased its stake in shares of Blend Labs by 3.5% in the 4th quarter. Swiss National Bank now owns 392,500 shares of the company's stock worth $1,652,000 after acquiring an additional 13,300 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Blend Labs by 23.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,242 shares of the company's stock worth $397,000 after acquiring an additional 17,914 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Blend Labs by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock worth $70,776,000 after acquiring an additional 388,583 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Blend Labs by 96.4% during the 4th quarter. Stifel Financial Corp now owns 20,375 shares of the company's stock valued at $86,000 after acquiring an additional 10,000 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLND has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a research note on Wednesday, May 28th. Wells Fargo & Company cut their price objective on Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, Keefe, Bruyette & Woods lifted their price target on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.