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Blend Labs, Inc. (NYSE:BLND) Insider Sells $155,337.60 in Stock

Blend Labs logo with Computer and Technology background

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 44,130 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $3.52, for a total value of $155,337.60. Following the completion of the sale, the insider now owns 6,065,937 shares in the company, valued at approximately $21,352,098.24. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Nima Ghamsari also recently made the following trade(s):

  • On Friday, June 13th, Nima Ghamsari sold 75,720 shares of Blend Labs stock. The stock was sold at an average price of $3.30, for a total value of $249,876.00.

Blend Labs Stock Performance

Shares of BLND stock traded down $0.04 during mid-day trading on Monday, reaching $3.19. 1,705,535 shares of the company were exchanged, compared to its average volume of 3,019,482. The company has a market capitalization of $829.10 million, a P/E ratio of -9.39 and a beta of 1.30. Blend Labs, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $5.53. The business's 50 day simple moving average is $3.40 and its 200 day simple moving average is $3.74.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company dropped 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. Finally, UBS Group cut their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Two equities research 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. Based on data from MarketBeat, Blend Labs has an average rating of "Moderate Buy" and an average target price of $4.90.

Read Our Latest Stock Analysis on BLND

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Blend Labs by 10.9% during the 1st quarter. Rhumbline Advisers now owns 324,773 shares of the company's stock worth $1,088,000 after acquiring an additional 32,030 shares during the period. Strs Ohio bought a new stake in Blend Labs during the first quarter worth approximately $193,000. Acadian Asset Management LLC grew its position in Blend Labs by 36.0% in the first quarter. Acadian Asset Management LLC now owns 1,430,949 shares of the company's stock worth $4,788,000 after buying an additional 378,667 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Blend Labs by 28.2% in the first quarter. EdgePoint Investment Group Inc. now owns 3,318,924 shares of the company's stock valued at $11,118,000 after buying an additional 729,512 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Blend Labs by 32.2% during the 1st quarter. AQR Capital Management LLC now owns 883,296 shares of the company's stock valued at $2,959,000 after acquiring an additional 214,998 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Blend Labs Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Blend Labs (NYSE:BLND)

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