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

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $3.06, for a total transaction of $76,500.00. Following the completion of the transaction, the insider owned 649,824 shares of the company’s stock, valued at $1,988,461.44. This trade represents a 3.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Blend Labs Trading Down 1.9%

Blend Labs stock traded down $0.06 during mid-day trading on Tuesday, hitting $2.89. The stock had a trading volume of 3,926,965 shares, compared to its average volume of 2,402,660. The stock has a market capitalization of $751.72 million, a PE ratio of -28.94 and a beta of 1.24. The stock has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $3.36. Blend Labs, Inc. has a 12 month low of $2.50 and a 12 month high of $4.49.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Canaccord Genuity Group reissued a “buy” rating and set a $5.25 target price on shares of Blend Labs in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.80.

Hedge Funds Weigh In On Blend Labs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC acquired a new position in Blend Labs in the 3rd quarter valued at $3,043,000. Perigon Wealth Management LLC acquired a new position in Blend Labs in the second quarter valued at about $1,712,000. Panagora Asset Management Inc. acquired a new position in shares of Blend Labs in the 2nd quarter valued at approximately $2,466,000. Mount Lucas Management LP bought a new stake in shares of Blend Labs during the 2nd quarter worth approximately $660,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Blend Labs by 110.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 40,070 shares of the company’s stock worth $141,000 after acquiring an additional 21,035 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Blend Labs Company Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.