Blend Labs (NYSE:BLND) Insider Sells $23,932.16 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 21,368 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $1.12, for a total transaction of $23,932.16. Following the completion of the sale, the insider directly owned 7,729,325 shares of the company’s stock, valued at approximately $8,656,844. This represents a 0.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 19th, Nima Ghamsari sold 27,775 shares of Blend Labs stock. The shares were sold at an average price of $0.92, for a total value of $25,553.00.
• On Monday, October 12th, Nima Ghamsari sold 25,098 shares of Blend Labs stock. The stock was sold at an average price of $0.97, for a total value of $24,345.06.
• On Monday, October 5th, Nima Ghamsari sold 24,272 shares of Blend Labs stock. The stock was sold at an average price of $1.02, for a total transaction of $24,757.44.
• On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The stock was sold at an average price of $1.10, for a total transaction of $24,775.30.
• On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The shares were sold at an average price of $1.19, for a total transaction of $25,000.71.

Blend Labs Stock Performance

BLND opened at $1.12 on Friday. The company has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $1.64. The firm has a market capitalization of $266.08 million, a PE ratio of -12.50 and a beta of 1.08. Blend Labs, Inc. has a 52 week low of $0.88 and a 52 week high of $3.44.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BLND shares. Citizens Jmp reiterated a “market outperform” rating and set a $4.00 target price on shares of Blend Labs in a report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Blend Labs in a report on Tuesday, July 21st. Zacks Research raised Blend Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. The Goldman Sachs Group set a $3.00 target price on Blend Labs in a research note on Friday, August 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Blend Labs presently has a consensus rating of “Hold” and an average price target of $2.82.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capricorn Fund Managers Ltd acquired a new position in Blend Labs in the 1st quarter valued at about $11,049,000. Irenic Capital Management LP boosted its position in shares of Blend Labs by 3.6% in the second quarter. Irenic Capital Management LP now owns 2,284,101 shares of the company’s stock valued at $3,906,000 after acquiring an additional 79,901 shares during the period. AXQ Capital LP acquired a new position in shares of Blend Labs in the second quarter valued at about $68,000. Hyperion Capital Advisors LP bought a new stake in shares of Blend Labs in the second quarter valued at approximately $51,000. Finally, Westmount Partners LLC acquired a new stake in Blend Labs during the second quarter worth approximately $77,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Company Profile

Blend Labs, Inc develops cloud-based software that helps financial institutions digitize and streamline lending and banking processes. Its platform is designed to support customer applications, document collection, underwriting workflows, compliance requirements and other steps involved in delivering financial products.

The company’s solutions cover areas including mortgage lending, consumer loans, deposit accounts and other retail banking services. Blend provides configurable tools intended to help banks, credit unions, fintech companies and other lenders create digital customer experiences while connecting front-end applications with back-office systems.

Blend was founded in 2012 and is headquartered in San Francisco, California.