Blend Labs, Inc. (NYSE:BLND) Insider Sells $90,750.00 in Stock

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 25,000 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $3.63, for a total value of $90,750.00. Following the completion of the sale, the insider owned 721,598 shares of the company's stock, valued at $2,619,400.74. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 14th, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The shares were sold at an average price of $3.42, for a total value of $68,400.00.
• 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 shares were 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 Stock Performance

NYSE:BLND traded down $0.02 during trading hours on Thursday, reaching $3.51. The stock had a trading volume of 462,986 shares, compared to its average volume of 2,880,536. The stock has a 50 day simple moving average of $3.48 and a 200 day simple moving average of $3.52. Blend Labs, Inc. has a 12-month low of $2.37 and a 12-month high of $5.53. The stock has a market cap of $910.12 million, a P/E ratio of -17.52 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BLND shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. Wells Fargo & Company cut 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 reiterated a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a report on Monday, May 19th. Finally, The Goldman Sachs Group dropped their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a report on Monday, May 12th. Two investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $4.90.

Institutional Trading of Blend Labs

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC purchased a new stake in Blend Labs in the first quarter worth $36,000. Crescent Park Management L.P. purchased a new position in shares of Blend Labs in the first quarter valued at $43,000. Balyasny Asset Management L.P. purchased a new position in shares of Blend Labs in the fourth quarter valued at $46,000. Pallas Capital Advisors LLC purchased a new position in shares of Blend Labs in the first quarter valued at $51,000. Finally, Summit Securities Group LLC purchased a new position in shares of Blend Labs in the first quarter valued at $61,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.