Blend Labs (NYSE:BLND) Insider Brian Kneafsey Sells 25,000 Shares

Key Points

• Insider Brian Kneafsey sold 25,000 shares of Blend Labs stock on October 15th at an average price of $3.34, reducing his ownership by 3.51% to a total of 687,909 shares.
• Blend Labs' stock price rose by 1.4%, reaching $3.32, with a market capitalization of approximately $860.78 million.
• Recent analyst ratings show a mix of opinions, with one analyst giving a "Strong Buy," while others have ranged from "Buy" to "Sell," resulting in an average price target of $4.88.

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the transaction, the insider directly owned 687,909 shares in the company, valued at $2,297,616.06. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, August 15th, Brian Kneafsey sold 25,000 shares of Blend Labs stock. The stock was sold at an average price of $2.87, for a total transaction of $71,750.00.

Blend Labs Stock Up 1.4%

Shares of BLND traded up $0.05 during trading hours on Friday, reaching $3.32. 2,156,156 shares of the company traded hands, compared to its average volume of 2,964,193. The stock has a market capitalization of $860.78 million, a P/E ratio of -22.10 and a beta of 1.24. Blend Labs, Inc. has a 12-month low of $2.63 and a 12-month high of $5.53. The business has a fifty day moving average price of $3.57 and a 200-day moving average price of $3.47.

Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The firm had revenue of $31.52 million for the quarter, compared to analysts' expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of Blend Labs by 36.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,430,949 shares of the company's stock worth $4,788,000 after purchasing an additional 378,667 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Blend Labs during the 1st quarter worth about $64,000. Perigon Wealth Management LLC acquired a new position in shares of Blend Labs during the 2nd quarter worth about $1,712,000. Rhumbline Advisers raised its position in shares of 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 purchasing an additional 32,030 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Blend Labs during the 1st quarter worth about $430,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on BLND shares. Wall Street Zen raised shares of Blend Labs from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Keefe, Bruyette & Woods lowered their price target on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Blend Labs in a report on Wednesday, October 8th. UBS Group lowered their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $5.25 price objective on shares of Blend Labs in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.88.

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.

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