Brian Kneafsey Sells 30,000 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total transaction of $111,900.00. Following the transaction, the insider now directly owns 776,759 shares in the company, valued at approximately $2,897,311.07. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, January 21st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $3.59, for a total transaction of $107,700.00.
• On Tuesday, January 14th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.41, for a total transaction of $102,300.00.
• On Tuesday, January 7th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $3.73, for a total value of $111,900.00.
• On Tuesday, December 31st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $4.27, for a total value of $128,100.00.
• On Tuesday, December 17th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The stock was sold at an average price of $5.05, for a total value of $151,500.00.
• On Tuesday, December 10th, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Stock Performance

NYSE BLND opened at $3.96 on Friday. Blend Labs, Inc. has a twelve month low of $2.08 and a twelve month high of $5.53. The stock has a market cap of $1.01 billion, a PE ratio of -11.63 and a beta of 1.38. The firm has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $3.89.

Blend Labs (NYSE:BLND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $45.18 million during the quarter, compared to the consensus estimate of $41.30 million. During the same period in the prior year, the company earned ($0.13) EPS. Research analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blend Labs

A number of institutional investors have recently bought and sold shares of BLND. Geode Capital Management LLC lifted its holdings in shares of Blend Labs by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,767,104 shares of the company’s stock worth $17,880,000 after acquiring an additional 283,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Blend Labs in the third quarter worth about $676,000. Advantage Alpha Capital Partners LP bought a new position in Blend Labs during the third quarter worth about $3,253,000. SG Americas Securities LLC acquired a new stake in Blend Labs during the third quarter valued at approximately $660,000. Finally, Fullcircle Wealth LLC bought a new stake in shares of Blend Labs in the 3rd quarter valued at approximately $508,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JMP Securities began coverage on shares of Blend Labs in a report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $5.75 price target on shares of Blend Labs in a report on Friday, December 20th. UBS Group raised their price target on Blend Labs from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Blend Labs from $4.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Blend Labs presently has an average rating of “Moderate Buy” and a consensus target price of $5.11.

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.