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 company’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 value of $111,900.00. Following the completion of the sale, the insider now owns 776,759 shares in the company, valued at $2,897,311.07. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 21st, Brian Kneafsey sold 30,000 shares of Blend Labs stock. The shares were 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 stock was 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 transaction 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 shares were 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 stock was sold at an average price of $5.12, for a total value of $153,600.00.

Blend Labs Price Performance

Shares of NYSE BLND traded up $0.07 during midday trading on Thursday, reaching $3.96. The company’s stock had a trading volume of 1,538,396 shares, compared to its average volume of 3,112,433. The stock has a market capitalization of $1.01 billion, a P/E ratio of -11.63 and a beta of 1.38. The firm has a 50 day moving average price of $4.40 and a 200-day moving average price of $3.89. Blend Labs, Inc. has a 12-month low of $2.08 and a 12-month high of $5.53.

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

Hedge Funds Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in BLND. FMR LLC raised its position in Blend Labs by 15.8% in the third quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after acquiring an additional 3,576 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Blend Labs by 38.1% during the 4th quarter. Summit Trail Advisors LLC now owns 17,947 shares of the company’s stock worth $76,000 after purchasing an additional 4,953 shares during the last quarter. Calamos Advisors LLC raised its holdings in shares of Blend Labs by 3.6% in the 4th quarter. Calamos Advisors LLC now owns 299,995 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,366 shares during the period. Xponance Inc. purchased a new position in Blend Labs in the second quarter valued at approximately $35,000. Finally, EP Wealth Advisors LLC grew its holdings in Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after purchasing an additional 16,084 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BLND shares. UBS Group raised their price objective on shares of Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $5.75 price target on shares of Blend Labs in a report on Friday, December 20th. Citizens Jmp upgraded shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised 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, Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Two equities research 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 MarketBeat, Blend Labs currently has an average rating of “Moderate Buy” and an average price target 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.