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

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 20,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $3.42, for a total value of $68,400.00. Following the transaction, the insider directly owned 746,598 shares in the company, valued at $2,553,365.16. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, July 15th, Brian Kneafsey sold 25,000 shares of Blend Labs stock. The stock was sold at an average price of $3.63, for a total value of $90,750.00.
• On Monday, July 7th, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.46, for a total value of $69,200.00.
• On Monday, June 30th, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The stock was sold at an average price of $3.31, for a total value of $66,200.00.
• 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 value of $63,400.00.

Blend Labs Price Performance

NYSE BLND traded down $0.15 on Friday, reaching $3.37. The company had a trading volume of 1,630,738 shares, compared to its average volume of 2,880,698. The firm has a market cap of $875.05 million, a price-to-earnings ratio of -16.85 and a beta of 1.24. Blend Labs, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $5.53. The business has a 50 day moving average of $3.49 and a two-hundred day moving average of $3.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. Keefe, Bruyette & Woods lifted their target price on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday, May 19th. Wells Fargo & Company lowered their target price on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and set a $7.00 price target on shares of Blend Labs in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group decreased their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. 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. According to MarketBeat, Blend Labs currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.90.

Institutional Trading of Blend Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Blend Labs during the 1st quarter worth approximately $64,000. Rhumbline Advisers grew its position in shares of Blend Labs by 10.9% during the 1st quarter. Rhumbline Advisers now owns 324,773 shares of the company's stock valued at $1,088,000 after purchasing an additional 32,030 shares in the last quarter. Swiss National Bank grew its position in shares of Blend Labs by 3.5% during the 4th quarter. Swiss National Bank now owns 392,500 shares of the company's stock valued at $1,652,000 after purchasing an additional 13,300 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Blend Labs by 23.5% during 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. Finally, Vanguard Group Inc. lifted 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 last quarter. 52.56% of the stock is owned by 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.