Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 20,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $3.17, for a total transaction of $63,400.00. Following the completion of the sale, the insider now directly owns 806,598 shares in the company, valued at $2,556,915.66. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Blend Labs Stock Down 4.2%
Shares of BLND stock traded down $0.14 during mid-day trading on Wednesday, hitting $3.22. 1,921,845 shares of the stock were exchanged, compared to its average volume of 3,013,469. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The company has a market cap of $836.11 million, a PE ratio of -16.10 and a beta of 1.30. The firm has a fifty day moving average of $3.41 and a 200 day moving average of $3.65.
Hedge Funds Weigh In On Blend Labs
Hedge funds have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. acquired a new position in shares of Blend Labs during the 4th quarter worth approximately $97,366,000. Whitebark Investors LP purchased a new stake in Blend Labs in the 4th quarter worth $10,895,000. Mirabella Financial Services LLP acquired a new position in Blend Labs during the fourth quarter worth $6,765,000. Invesco Ltd. lifted its holdings in Blend Labs by 1,230.9% during the fourth quarter. Invesco Ltd. now owns 1,576,347 shares of the company's stock valued at $6,636,000 after purchasing an additional 1,457,901 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Blend Labs in the fourth quarter valued at about $5,722,000. Hedge funds and other institutional investors own 52.56% of the company's stock.
Analyst Ratings Changes
BLND has been the subject of a number of research reports. JMP Securities restated a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a research report on Wednesday, May 28th. The Goldman Sachs Group lowered their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research note on Monday, May 12th. Keefe, Bruyette & Woods raised their target price on Blend Labs from $3.50 to $4.00 and gave the stock a "market perform" rating in a report on Monday, May 19th. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a report on Monday, May 12th. Finally, Wells Fargo & Company lowered their price objective 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. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $4.90.
View Our Latest Stock Analysis on BLND
About Blend Labs
(
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.
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