Blend Labs, Inc. (NYSE:BLND) Insider Brian Kneafsey Sells 20,000 Shares

Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Brian Kneafsey sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $3.46, for a total transaction of $69,200.00. Following the sale, the insider owned 766,598 shares in the company, valued at approximately $2,652,429.08. The trade was a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 Trading Up 0.7%

BLND traded up $0.03 during trading hours on Friday, hitting $3.51. The company's stock had a trading volume of 1,057,373 shares, compared to its average volume of 2,894,426. The business's 50-day moving average price is $3.46 and its 200-day moving average price is $3.54. Blend Labs, Inc. has a 12 month low of $2.36 and a 12 month high of $5.53. The stock has a market cap of $910.11 million, a price-to-earnings ratio of -17.52 and a beta of 1.24.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. Canaccord Genuity Group reiterated a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a research report on Monday, May 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Blend Labs from $3.50 to $4.00 and gave the company a "market perform" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company reduced their price objective on shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $4.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lightspeed Management Company L.L.C. purchased a new position in Blend Labs during the fourth quarter worth $97,366,000. Vanguard Group Inc. boosted its stake in Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock worth $58,915,000 after buying an additional 775,091 shares during the period. ShawSpring Partners LLC boosted its stake in Blend Labs by 6.8% during the fourth quarter. ShawSpring Partners LLC now owns 7,079,165 shares of the company's stock worth $29,803,000 after buying an additional 449,175 shares during the period. Metavasi Capital LP boosted its stake in Blend Labs by 15.6% during the first quarter. Metavasi Capital LP now owns 5,554,101 shares of the company's stock worth $18,606,000 after buying an additional 750,000 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Blend Labs by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 4,842,483 shares of the company's stock worth $20,391,000 after buying an additional 75,379 shares during the period. 52.56% of the stock is owned by hedge funds and other 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.