Blend Labs (NYSE:BLND) Insider Nima Ghamsari Sells 25,098 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 25,098 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $0.97, for a total value of $24,345.06. Following the transaction, the insider owned 7,778,468 shares of the company’s stock, valued at approximately $7,545,113.96. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nima Ghamsari also recently made the following trade(s):

• On Monday, October 5th, Nima Ghamsari sold 24,272 shares of Blend Labs stock. The shares were sold at an average price of $1.02, for a total value of $24,757.44.
• On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The shares were sold at an average price of $1.10, for a total value of $24,775.30.
• On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The stock was sold at an average price of $1.19, for a total value of $25,000.71.

Blend Labs Price Performance

BLND stock opened at $0.92 on Thursday. The stock has a market capitalization of $218.54 million, a P/E ratio of -10.27 and a beta of 1.08. Blend Labs, Inc. has a fifty-two week low of $0.89 and a fifty-two week high of $3.62. The business has a 50-day moving average of $1.33 and a 200-day moving average of $1.54.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BLND shares. Citigroup reiterated a “market outperform” rating on shares of Blend Labs in a report on Tuesday, July 21st. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a research report on Friday, August 7th. Canaccord Genuity Group reduced their target price on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Wells Fargo & Company reduced their target price on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $4.00 target price on shares of Blend Labs in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Blend Labs presently has an average rating of “Hold” and an average target price of $2.82.

Hedge Funds Weigh In On Blend Labs

Institutional investors have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd bought a new position in shares of Blend Labs in the 1st quarter valued at about $11,049,000. Irenic Capital Management LP acquired a new position in shares of Blend Labs during the 4th quarter worth about $9,469,000. Militia Capital Partners LP bought a new stake in shares of Blend Labs in the 4th quarter valued at about $1,672,000. Sei Investments Co. increased its position in Blend Labs by 99.0% during the first quarter. Sei Investments Co. now owns 258,688 shares of the company’s stock worth $440,000 after buying an additional 128,677 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Blend Labs during the second quarter worth approximately $212,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Company Profile

Blend Labs, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to digitize and streamline the process of applying for, underwriting and closing financial products, helping institutions deliver more consistent experiences across digital and physical channels.

The company’s solutions support a range of lending and banking activities, including consumer deposit accounts, mortgages, home equity loans, personal loans, auto loans and credit cards.