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

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.

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

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.