Insider Selling: Blend Labs (NYSE:BLND) Insider Sells $24,345.06 in Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 25,098 shares of the business’s 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 directly owned 7,778,468 shares of the company’s stock, valued at $7,545,113.96. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 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 traded down $0.10 on Friday, reaching $0.90. The company had a trading volume of 2,336,293 shares, compared to its average volume of 1,806,829. Blend Labs, Inc. has a 52-week low of $0.88 and a 52-week high of $3.62. The company has a market cap of $213.57 million, a price-to-earnings ratio of -10.03 and a beta of 1.08. The business has a 50 day simple moving average of $1.30 and a 200 day simple moving average of $1.54.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Zacks Research upgraded shares of Blend Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Citizens Jmp reissued a “market outperform” rating and issued a $4.00 target price on shares of Blend Labs in a research note on Tuesday, July 21st. Wells Fargo & Company lowered their price target on Blend Labs from $4.00 to $3.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, The Goldman Sachs Group set a $3.00 price target on shares of Blend Labs in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.82.

Institutional Trading of Blend Labs

Institutional investors have recently added to or reduced their stakes in the business. Capricorn Fund Managers Ltd purchased a new position in shares of Blend Labs in the first quarter worth about $11,049,000. Irenic Capital Management LP purchased a new stake in Blend Labs during the 4th quarter valued at about $9,469,000. Rice Hall James & Associates LLC boosted its holdings in Blend Labs by 5.9% during the 4th quarter. Rice Hall James & Associates LLC now owns 882,590 shares of the company’s stock valued at $2,683,000 after acquiring an additional 48,791 shares during the period. Militia Capital Partners LP bought a new position in Blend Labs during the 4th quarter worth approximately $1,672,000. Finally, Bank of America Corp DE grew its position in Blend Labs by 6.8% during the 1st quarter. Bank of America Corp DE now owns 340,757 shares of the company’s stock worth $579,000 after acquiring an additional 21,713 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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.