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 Blend Labs stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $3.42, for a total transaction of $68,400.00. Following the completion of the transaction, the insider directly owned 746,598 shares in the company, valued at $2,553,365.16. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $3.63, for a total transaction 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 transaction of $69,200.00.
• On Monday, June 30th, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.31, for a total transaction of $66,200.00.
• On Monday, June 23rd, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.17, for a total transaction of $63,400.00.

Blend Labs Stock Up 0.4%

BLND traded up $0.01 on Friday, hitting $3.53. The company's stock had a trading volume of 218,972 shares, compared to its average volume of 2,873,377. The company's 50 day simple moving average is $3.49 and its 200-day simple moving average is $3.51. The firm has a market cap of $917.64 million, a P/E ratio of -17.62 and a beta of 1.24. Blend Labs, Inc. has a 12 month low of $2.37 and a 12 month high of $5.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp bought a new position in Blend Labs in the 2nd quarter valued at $41,000. Perigon Wealth Management LLC bought a new position in Blend Labs in the 2nd quarter valued at $1,712,000. Diversified Trust Co bought a new position in Blend Labs in the 2nd quarter valued at $248,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Blend Labs by 110.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 40,070 shares of the company's stock valued at $141,000 after purchasing an additional 21,035 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in Blend Labs by 47.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 22,328 shares of the company's stock valued at $74,000 after purchasing an additional 7,194 shares during the period. 52.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BLND. Keefe, Bruyette & Woods boosted their target price on shares of Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a report on Monday, May 19th. Canaccord Genuity Group reiterated a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a report on Monday, May 12th. The Goldman Sachs Group dropped their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a report on Wednesday, May 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Blend Labs from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Two 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's stock. According to MarketBeat.com, Blend Labs presently has a consensus rating of "Moderate Buy" and an average target price of $4.90.

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.