Insider Selling: Blend Labs, Inc. (NYSE:BLND) Insider Sells 4,247 Shares of Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,247 shares of Blend Labs stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.37, for a total value of $18,559.39. Following the sale, the insider now owns 84,430 shares of the company’s stock, valued at approximately $368,959.10. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Oxana Tkach also recently made the following trade(s):

• On Monday, November 25th, Oxana Tkach sold 18,324 shares of Blend Labs stock. The stock was sold at an average price of $5.18, for a total transaction of $94,918.32.

Blend Labs Stock Up 0.2 %

Shares of NYSE BLND traded up $0.01 during mid-day trading on Monday, reaching $4.41. 3,004,674 shares of the company were exchanged, compared to its average volume of 2,395,239. Blend Labs, Inc. has a 1 year low of $2.08 and a 1 year high of $5.53. The firm has a 50-day moving average of $4.44 and a 200 day moving average of $3.62. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -12.97 and a beta of 1.33.

Institutional Trading of Blend Labs

Hedge funds have recently modified their holdings of the company. ShawSpring Partners LLC grew its position in shares of Blend Labs by 58.7% in the 2nd quarter. ShawSpring Partners LLC now owns 6,716,144 shares of the company’s stock worth $15,850,000 after buying an additional 2,485,283 shares during the last quarter. Principal Financial Group Inc. lifted its position in Blend Labs by 697.6% during the third quarter. Principal Financial Group Inc. now owns 2,733,004 shares of the company’s stock valued at $10,249,000 after acquiring an additional 2,390,337 shares during the last quarter. State Street Corp boosted its stake in Blend Labs by 57.6% in the third quarter. State Street Corp now owns 5,461,973 shares of the company’s stock valued at $20,482,000 after acquiring an additional 1,995,362 shares in the last quarter. Summit Partners Public Asset Management LLC grew its holdings in Blend Labs by 452.7% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,895,865 shares of the company’s stock worth $7,109,000 after purchasing an additional 1,552,865 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of Blend Labs during the third quarter worth $3,253,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLND shares. Wells Fargo & Company upped their target price on shares of Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JMP Securities assumed coverage on Blend Labs in a report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective on the stock. The Goldman Sachs Group upped their target price on Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blend Labs presently 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.