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 stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $3.63, for a total transaction of $90,750.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, July 14th, Brian Kneafsey sold 20,000 shares of Blend Labs stock. The stock was sold at an average price of $3.42, for a total transaction 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 transaction 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 transaction 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 transaction of $63,400.00.

Blend Labs Stock Performance

Shares of BLND traded down $0.15 during mid-day trading on Friday, reaching $3.37. 1,630,738 shares of the company's stock traded hands, compared to its average volume of 2,880,698. The business's 50-day moving average price is $3.49 and its 200-day moving average price is $3.51. The stock has a market capitalization of $875.05 million, a P/E ratio of -16.85 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BLND shares. JMP Securities reissued a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a report on Wednesday, May 28th. Canaccord Genuity Group restated a "buy" rating and set a $5.25 target price on shares of Blend Labs in a report on Monday, May 12th. Keefe, Bruyette & Woods upped 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. The Goldman Sachs Group dropped their price objective 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. Finally, Wells Fargo & Company decreased their price objective on Blend Labs from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.90.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Blend Labs in the first quarter valued at approximately $64,000. Rhumbline Advisers boosted its holdings in Blend Labs by 10.9% in 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 during the period. Swiss National Bank boosted its holdings in Blend Labs by 3.5% in 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 during the period. Price T Rowe Associates Inc. MD raised its position 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 valued at $397,000 after buying an additional 17,914 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Blend Labs by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 16,811,510 shares of the company's stock valued at $70,776,000 after buying an additional 388,583 shares in the last quarter. 52.56% of the stock is currently 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.